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GordonBlue · 03-10-2023, 12:00 PM

not sure where else to put this.

Silicon Valley Bank collapses after failing to raise capital

https://www.cnn.com/2023/03/10/inves...ank/index.html

Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which its capital crisis set off fears of a meltdown across the banking industry.

While relatively unknown outside of Silicon Valley, SVB was among the top 20 American commercial banks, with $209 billion in total assets at the end of last year, according to the FDIC.

But SVB catered primarily to to higher-risk tech startups that have recently been hurt by higher interest rates and dwindling venture capital.

03-10-2023, 12:00 PM	#9386
GordonBlue Franchise Player Join Date: Dec 2016 Location: Alberta Exp:	not sure where else to put this. Silicon Valley Bank collapses after failing to raise capital https://www.cnn.com/2023/03/10/inves...ank/index.html Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which its capital crisis set off fears of a meltdown across the banking industry. While relatively unknown outside of Silicon Valley, SVB was among the top 20 American commercial banks, with $209 billion in total assets at the end of last year, according to the FDIC. But SVB catered primarily to to higher-risk tech startups that have recently been hurt by higher interest rates and dwindling venture capital.