‘Silicon Valley Bank COLLAPSES: What now?’

The collapse on Friday of Silicon Valley Bank, the second largest in U.S. banking history, has shaken the tech industry and spread anxiety across all the financial system.

Tech startups have been left without access to their money in the wake of Silicon Valley Bank's collapse. But what happened in just two days?

On Wednesday SVB sold a large chunk of its securities, worth $21 billion to fund its redemptions, and ended up losing about a $1.8 billion, which it needed to fill through a capital raise.

#siliconvalley #Bank #financialcrisis

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