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The Latest Breaking News from SVB

The first social media bank run? A newsletter popular with VCs may have been the domino that started the Silicon Valley Bank implosion

According to one theory, the run on SVB can be traced back to an email newsletter and an accompanying tweet, and the subsequent reaction.

Fortune

Kuwait Central Bank Expects Little SVB Impact on Local Lenders

Kuwait's central bank said on Sunday there would be very little impact on local lenders from the collapse on Friday of Silicon Valley Bank (SVB). The Kuwaiti central bank governor said that the exposure of the local banks to SVB was very limited and that the banks assured him that…

Asharq Al-Awsat

US guarantees all deposits after Silicon Valley Bank collapse, as Biden promises action

Announcement comes as Signature Bank was closed on Sunday by regulators – the second to fail in a week

The Guardian - US

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'Big Short' Michael Burry Warns of Another Major Bank Collapse

The legendary investor says Silicon Valley Bank is Enron, and Worldcom should follow. Enron and Worldcom collapsed within months of each other in 2001 and 2022, rocking global markets.

The Street

Government to line up Barclays for Silicon Valley Bank UK unit rescue deal

The government is seeking to line up Barclays to take over the UK unit of Silicon Valley Bank (SVB) in a bid to rescue it from liquidation, the Standard has learned.

Evening Standard

How Silicon Valley Bank could precipitate a banking crisis

Corporate America just got a stark reminder that none of their deposits are insured above $250,000 by the Federal Deposit Insurance Corporation (FDIC).

Axios

Regulators shut down SBV after bank run

How can a bank run happen in 2023? Why didn’t anyone step in to save SVB? And who is at risk now?

Fortune

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More than 200 UK firms at ‘serious risk’ from Silicon Valley Bank collapse

Government ‘working at pace’ to limit damage, says chancellor

The Independent UK

SVB Collapse: Vox Media, Etsy Hit by Bank Shutdown

The number of companies and investors who had accounts at Silicon Valley continue to be revealed.

The Street

SVB Collapse: Legendary Financier Bill Ackman Warns of Massive Bank Runs

The hedge fund manager says that it is likely that Silicon Valley depositors will have access to around 50% of their funds on Monday, but the remaining 50% will not be available for 3-6 months.

The Street

FDIC races to start returning some uninsured SVB deposits Monday

U.S. regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion of clients’ uninsured deposits available as soon as Monday, according to people with knowledge of the situation.

Tribune News Service

Mark Cuban urges Fed to buy Silicon Valley Bank debt ‘immediately,’ says it’s ‘not the wealthy taking the hit’

It's entrepreneurs and their employees and vendors who are "feeling the pain," Cuban said.

Fortune

SVB CEO Sold $3.6 Million Worth of Shares Before Bank's Collapse

Greg Becker sold his shares on Feb. 27, eleven days before Silicon Valley Bank was shut down by regulators.

The Street

Mark Cuban Had Millions at Failed Silicon Valley Bank

The legendary investor and entrepreneur says he has an exposure between $8 million and $10 million to the California bank, which was closed on March 10 by regulators, after a run on the bank.

The Street

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Axios

SVB doled out bonuses ahead of FDIC seizure

The FDIC emailed SVB employees late last night, offering 45 days of employment.

Tribune News Service

From Santa Clara to Shoreditch, SVB fallout spreads around world

The fallout from the collapse of Silicon Valley Bank is beginning to spread around the world.

The Street

Silicon Valley Bank Collapse: BlockFi Left $227 Million at Failed Bank

A bankrupt crypto lender was impacted by the collapse of Silicon Valley Bank.

Fortune

Elon Musk is ‘open to the idea’ of buying Silicon Valley Bank as he lays Twitter payments groundwork

Musk is watching the Silicon Valley Bank failure with interest as he works to enable payments on Twitter.

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The Street

Stablecoin USDC Loses Dollar Peg with $3.3 Billion Locked in SVB

The fifth largest cryptocurrency by market value lost its dollar peg after its issuer announced that it had around 8.25% of its $40 billion reserves locked in failed Silicon Valley Bank.

The Independent UK

Trump blamed over Silicon Valley Bank collapse for watering down financial regulations

Fifty Republican and 17 Democratic senators voted to reduce regulations on the bank

The Street

Elon Musk May Buy Failed Silicon Valley Bank

Tesla’s CEO says he's open to the idea of Twitter acquiring the Californian bank that was shut down on March 10 by regulators.

Tribune News Service

As banks topple, regulators face reckoning on week of mayhem

On Monday, the head of the Federal Deposit Insurance Corp. warned a gathering of bankers in Washington about a $620 billion risk lurking in the U.S. financial system.

The Street

SVB Collapse: Small Businesses Caught Up in Bank Closure

Small businesses and non-profit organizations were also impacted by the collapse of Silicon Valley Bank, impacting their ability to pay employees or vendors.

Fortune

Collateral damage from Silicon Valley Bank's explosion

The tech ecosystem has been tossed into turmoil as , one of the nation’s largest banks for startups, collapsed Friday following a run on deposits. Now, with the bank’s assets frozen and under the control of the Federal Deposit Insurance Corporation, SVB’s customers, employees, and investors are grappling with a…

The Guardian - US

USD Coin value falls after revealing $3.3bn held at Silicon Valley Bank

The stablecoin fell as low as $0.87 as Circle broke the news that its reserves were at the collapsed lender

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