Juno

10/ We are awaiting instructions from the Trustee or Synapse’s partner banks as to the exact placement of end user funds and the process for disbursal of end user funds.

9/ Please note that Juno does not or has never held end user funds and hence we have limited visibility in the ongoing issues and reconciliation process. We are sharing what we are made aware of or what is publicly available.

1/ Update as on June 18, 2024: Synapse Chapter 11 Trustee, Jelena McWilliams, presented the second status report to the US Federal court in the Synapse bankruptcy hearing held on June 14, 2024.

8/8 Our counsel also agreed with the trustee's recommendation to provide interim relief to the end users by releasing pro rata amounts immediately while final reconciliation continues. This provides end users access to funds in the most equitable manner.

7/ In the hearing, Juno's counsel highlighted that Juno platform's end users continue to remain affected & are still unable to access funds for 4 weeks now. Our counsel also appreciated the progress being made & the urgency shown by the trustee to get users access to their funds.

1/ The new Chapter 11 trustee, Jelena McWilliams, presented her initial report to the US Federal court. Her report details out the timeline of events & her interactions with all the relevant stakeholders including partner banks, fintech platforms, regulatory authorities & users.

4/4 We are committed to working diligently with Trustee McWilliams, providing all necessary support, resources, and information to facilitate quick access to funds for our end users. We will keep you informed of any significant updates in this case.

3/ The court has instructed Trustee McWilliams to prioritize ensuring end users have access to their funds. Additionally, the court has mandated regular weekly updates from the US trustee on the progress being made.

1/ On May 24, 2024, a hearing took place in the US federal court regarding the ongoing dispute between Evolve and Synapse. While the dispute remains unresolved, significant progress was made during the hearing.