Absolutely unbelievable that SVB could collapse in less than 24hrs (SVB being the default bank for many startups).
What will happen to funds above 250k? Extraordinary.
https://techcrunch.com/2023/03/10/silicon-valley-bank-is-being-shut-down-today-by-regulators/
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“The bank has been put under control of the federal government, making it the largest bank to fail since the 2008 financial crisis”
https://www.nytimes.com/2023/03/10/business/silicon-valley-bank-stock.html
