Silicon Valley Bank was shut down Friday by regulators.Getty Images SVB's startup and VC customers are staring down huge losses after its failure. Up to a fifth of the bank's uninsured deposits may not be recovered, according to Moody's estimates. A buyer is being sought for the failed bank by Monday to avoid more calamity for startups.
Silicon Valley Bank's Collapse Means Startups And Vcs Face Billions In Losses
rhogg@insider.com (Ryan Hogg), Business Insider
Sat, 03/11/2023 - 11:51am
Topics: shark tank getty images the federal deposit insurance corporation fdic america february roku moody december peter thiel's founders fund bloomberg citizens bank the fdic sandeep dahiya georgetown university's mcdonough school business told hayley cuccinello the information kristine dickson cfo lead bank garry tan y combinator cnbc mark cuban federal reserve bill ackman business insider silicon valley bank svb vc fdic the fdic sec us bank's collapse startups billions losses deposits failed friday uninsured buyer stock risk lender monday extinction-level total avoid year tech firms failure investors rate ndash meaning significant report potential interest raise including million big
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