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David Gura

A Silicon Valley lender collapsed after a run on the bank. Here's what to know

SVB Silicon Valley Bank Silicon Valley FDIC Jared Shaw Janet Yellen Justin Sullivan Wells Fargo

A customer stands outside of the shuttered Silicon Valley Bank headquarters in Santa Clara, Calif., on March 10, 2023. The lender was taken over federal regulators on Friday, marking one of the largest bank failures since the 2008 Global Financial Crisis. (Justin Sullivan/Getty Images)

A bank that caters to many of the world's most powerful tech investors collapsed on Friday and was taken over by federal regulators, becoming one of the largest lenders to fail since the 2008 Global Financial Crisis.

California's banking regulators shut down Silicon Valley Bank and put it into receivership under the Federal Deposit Insurance Corp. (FDIC).

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