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The Latest Breaking News from FDIC

Silicon Valley Bank failure could wipe out 'a whole generation of startups'

The implosion of Silicon Valley Bank could force hundreds of tech startups to lay off workers or shut down completely. It remains unclear how much, if any, of depositors' money will be returned.

WEKU

Circle reveals it has $3.3 billion stuck at Silicon Valley Bank as USDC wobbles against its peg

The company insisted that it was protecting the stablecoin from a "black swan failure."

Fortune

SVB spectacularly fails after unthinkable heresy becomes reality

Greg Becker sat in a red armchair at an invite-only conference in Los Angeles last week, legs crossed, one hand cutting through air.

Tribune News Service

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SVB Collapse: Roku Had $487 Million In Cash At Failed Bank, Rocket Lab, Roblox Also Affected

Several companies disclosed late Friday evening the amount of cash they had no deposit at failed Silicon Valley Bank.

The Street

Silicon Valley Bank biggest US lender to fail since 2008 financial crisis – a finance expert explains the impact

Silicon Valley Bank, which catered to the tech industry for three decades, collapsed on March 10, 2023, after the Santa Clara, California-based lender suffered from an old-fashioned bank run. State regulators seized the bank and made the Federal Deposit Insurance Corporation its receiver.

The Conversation

Shockwaves rock US tech and finance sectors as Silicon Valley Bank goes belly-up

US regulators have seized Silicon Valley Bank's assets, marking the largest failure of a financial institution since the height of the GFC

The New Daily

Michael Hiltzik: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours

All banking crises throughout history have shared a common element: Short-term depositors try to withdraw their money from institutions locked into long-term assets.

Los Angeles Times

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Here's what it looked like outside Silicon Valley Bank after it shutdown

The failure of one of the largest commercial banks in the U.S. left people frantically figuring out next steps Friday morning.

Fortune

Why did Silicon Valley Bank fail?

Shutdown and takeover of bank by regulators can be traced to the Fed raising interest rates and risk-averse investors

The Guardian - US

How did the tech world's biggest bank collapse in under a week?

The tech and VC sector's most reliable lender collapsed literally overnight. How did that happen?

Fortune

Startup founders are reeling as their Silicon Valley Bank funds are in limbo: ‘Our heads are spinning’

Founders who spoke with Fortune are frantically trying to untangle when they’ll get any money back—and how long they can make payroll.

Fortune

Collapse of Silicon Valley Bank Puts Many Startups in Dire Straits

The bank was the to-go lender for most startups and venture capital firms in Silicon Valley. Its failure is a huge loss for tech.

The Street

Silicon Valley Bank Collapse: Large Account Holders Are Unsecured Depositors

The FDIC insures a maximum $250,000 deposit for account holders at banks.

The Street

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

Silicon Valley Bank was taken over by federal regulators on Friday, capping a spectacular collapse after the lender suffered a run on deposits.

WEKU

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The New Daily

US regulator closes failed bank and seizes its assets

A US regulator has shut Silicon Valley Bank and appointed the Federal Deposit Insurance Corporation as the receiver.

Investors Business Daily

Biotech, Banking Stocks Tumble As Federal Officials Seize SVB Deposits

The federal government's takeover of Silicon Valley Bank on Friday sent shock waves through the medical sector and hammered biotech stocks.

Axios

This weekend is everything for Silicon Valley Bank and its customers

The next three days will determine if the situation escalates from an inconvenience to a crisis for SVB clients, most of which are businesses that need to meet payroll.

Fortune

Silicon Valley Bank just sucked all the oxygen out of SXSW

Just as Silicon Valley entrepreneurs were landing in Austin for the annual South by Southwest celebration, the startup industry's primary bank collapsed.

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Tribune News Service

Silicon Valley Bank swiftly collapses after tech startups flee

Silicon Valley Bank became the biggest U.S. lender to fail in more than a decade after a tumultuous week that saw an unsuccessful attempt to raise capital and a cash exodus from the tech startups that had fueled the lender’s rise.

The Street

Two US Banks Collapse in 48 Hours. Which One's Next?

Silvergate served the cryptocurrency industry, while SVB was the bank for Silicon Valley tech startups.

The Street

Silicon Valley Bank Fails; FDIC Takes Over, Creates New Bank

Silicon Valley Bank was closed by the Federal Deposit Insurance Corp., which launched the Deposit Insurance National Bank of Santa Clara.

The Independent UK

Silicon Valley Bank collapses in second-biggest US bank failure ever

Largest bank collapse in 15 years, since global financial crisis

Fortune

SVB cash crunch highlights $620 billion hole in banks’ balance sheets

The spike in interest rates has been devastating for the value of their securities portfolios, meaning many carry around billions in unrealized losses that could pose a problem if funding dries up.

The Independent UK

Silicon Valley Bank seized by FDIC as depositors pull cash

The Federal Deposit Insurance Corporation is seizing the assets of Silicon Valley Bank, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis

Evening Standard

Silicon Valley Bank collapses and enters receivership after tech firms pull funds

Silicon Valley Bank has been closed by California regulators after tech firms scrambled to withdraw funds from the business.

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