The Latest Breaking News from Silicon Valley Bank

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 · Mar 10, 2023

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 · Mar 10, 2023

A major Bay Area bank just failed. ‘Spectacular overpriced bubbles’ are going to keep popping, warns legendary investor Jeremy Grantham

Grantham blamed a “horror show” of Fed policies for a bear market he says likely won’t bottom out until late next year.

Fortune · Mar 10, 2023

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.

Fortune · Mar 10, 2023

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.

Tribune News Service · Mar 10, 2023

Markets in turmoil as US closes Silicon Valley Bank

SANTA CLARA (UNITED STATES) - US regulators shut down Silicon Valley Bank on Friday in a spectacular move that sent global banking shares into turmoil, as markets fretted over possible contagion from the biggest banking failure since the 2008 financial crisis.

Bangkok Post · Mar 10, 2023

Tech firms pour cash into Revolut and Wise amid Silicon Valley Bank demise

UK tech firms are pouring cash into Revolut, Wise and other London fintechs after scrambling to withdraw funds from Silicon Valley Bank amid fears they may lose access to their deposits, the Standard has learned.

Evening Standard · Mar 10, 2023

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

Largest bank collapse in 15 years, since global financial crisis

The Independent UK · Mar 10, 2023

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.

Fortune · Mar 10, 2023

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

The Independent UK · Mar 10, 2023