Fintech startup Synapse faces Chapter 7 liquidation due to US Trustee's allegations of "gross mismanagement."
Fintech startup Synapse faces Chapter 7 liquidation after US Trustee alleges "gross mismanagement," leading to failed asset acquisition by TabaPay. Synapse accused former partners of owing millions, and Evolve Bank & Trust claimed Synapse cut off access, freezing end-user accounts. The US Trustee's emergency motion will be heard on May 17th. Synapse's fintech clients may provide funding to continue operations.
May 16, 2024
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