Steve Randy Waldman
@interfluidity.com
I don't dispute that Evolve may have been sketch and terrible. The best way to rob a bank is to own one. And you obviously know this story more deeply than I do. 1/
5 lessons learned from Synapse’s collapse
Link Preview: 5 lessons learned from Synapse’s collapse: Ledgering issues, bank partner and regulatory lapses and gross mismanagement led to a shortfall of up to $95 million between bank-held funds and amounts owed to fintech end users, a law firm found.
Steve Randy Waldman
@interfluidity.com
But looking around, it seems that Synapse did not just have one banking partner, and loss of its capacity and role in tracking backing assets was much of the story. The failure was not only at one bank. www.bankingdive.com/news/5-lesso... /fin
5 lessons learned from Synapse’s collapse
Link Preview: 5 lessons learned from Synapse’s collapse: Ledgering issues, bank partner and regulatory lapses and gross mismanagement led to a shortfall of up to $95 million between bank-held funds and amounts owed to fintech end users, a law firm found.
