More on SVB’s Last 48 Hours

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Silicon Valley Bank saw first hand what happens when bank depositors and the financial markets panic.

Wow, just wow. Silicon Valley Bank saw customers withdraw $42 billion dollars by the end of Thursday, leaving it with a negative balance. It’s too late for any more withdrawal as regulators moved in and shut the bank down before it could sustain any further losses.

Roku reported $487 million, or 26 percent, of their cash reserves are tied up in SVB. Many smaller companies are also impacted.

Published 3/10/2023. Read full article.