#522: Breaking Down The Synapse Bankruptcy with Jason Mikula

TFTC: A Bitcoin Podcast · Jul 10, 2024 · 1h 6m

Marty sits down with Jason Mikula to discuss fintech, Synapse, Banking as a Service, and the general state of banking.

Jason on Twitter: https://x.com/mikulaja

Jason's Substack: https://fintechbusinessweekly.substack.com/

0:00 - Intro

1:42 - Background on the Synapse case

12:19 - River & Unchained

13:35 - Who is at fault?

20:10 - FBO account structure

24:36 - Impact on end users

30:54 - Gradually, Then Suddenly & Zaprite

32:32 - Unclear resolution and stain on fintech

41:18 - Can small banks compete?

49:46 - SVB and the state of the banking system

57:00 - Are we seeing Chokepoint 2.0?

1:03:58…