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The Latest Breaking News on Fears of City jobs axe grow as IG cuts 10% of staff

One of Silicon Valley's Top Banks Fails; Assets are Seized

Regulators rushed Friday to seize the assets of one of Silicon Valley's top banks, marking the largest failure of a US financial institution since the height of the financial crisis almost 15 years ago. Silicon Valley Bank, the nation’s 16th-largest bank, failed after depositors hurried to withdraw money this week…

Asharq Al-Awsat

From wine country to London, bank's failure shakes worldwide

It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world

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 Independent UK

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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…

Fortune

Government to meet tech firms following collapse of Silicon Valley Bank UK

Industry leaders expected to call for state intervention to avoid failure of hundreds of UK firms

The Guardian - UK

SVB: A startup bank's rise and fall

How SVB happened, and how it all came crashing down.

Axios

New bank considers offer for UK arm of collapsed Silicon Valley Bank

A new bank which has only been in business for two years is considering a bid to buy the British arm of the failed Silicon Valley Bank (SVB), according to reports.

Evening Standard

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A major bank failed. Here’s why it’s not 2008 again

The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems in banking — a bank run — which led to its failure on Friday

The Independent UK

Circle reveals it has $3.3 billion stuck at Silicon Valley Bank as USDC wobbles against its peg

The company insisted that it was protecting the stablecoin from a "black swan failure."

Fortune

Silicon Valley Bank biggest US lender to fail since 2008 financial crisis – a finance expert explains the impact

Silicon Valley Bank, which catered to the tech industry for three decades, collapsed on March 10, 2023, after the Santa Clara, California-based lender suffered from an old-fashioned bank run. State regulators seized the bank and made the Federal Deposit Insurance Corporation its receiver.

The Conversation

Shockwaves rock US tech and finance sectors as Silicon Valley Bank goes belly-up

US regulators have seized Silicon Valley Bank's assets, marking the largest failure of a financial institution since the height of the GFC

The New Daily

Silicon Valley Bank’s sudden shutdown sparks panic—but some saw red flags months ago

You know things are dire when even the short sellers aren’t celebrating.

Fortune

Why did Silicon Valley Bank fail?

Shutdown and takeover of bank by regulators can be traced to the Fed raising interest rates and risk-averse investors

The Guardian - US

SVB's collapse could lead to 'contagion' among regional banks—but experts say it's not a systemic risk to the entire financial system

“We do not believe there is contagion risk for the rest of the banking sector on the heels of SVB's struggles,” David Trainer, CEO of the investment research firm New Constructs, told Fortune.

Fortune

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Investors Business Daily

Dow Jones Futures Fall; Regulators Protect All SVB Deposits, But Bank Stocks Keep Tumbling

Futures were radically split as financial regulators guaranteed all SVB Financial deposits and offered a backstop for other banks. Signature Bank was closed. But bank stocks kept tumbling.

Fortune

A SVB short seller explains red flags he saw months ago

“I've never seen a balance sheet crumble this quickly,” says Dale Wettlaufer, a partner at Bleecker Street Research who shorted the stock in January.

Fortune

How did the tech world's biggest bank collapse in under a week?

The tech and VC sector's most reliable lender collapsed literally overnight. How did that happen?

Fortune

Startup founders are reeling as their Silicon Valley Bank funds are in limbo: ‘Our heads are spinning’

Founders who spoke with Fortune are frantically trying to untangle when they’ll get any money back—and how long they can make payroll.

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Fortune

A major Bay Area bank just failed. ‘Spectacular overpriced bubbles’ are going to keep popping, warns legendary investor Jeremy Grantham

Grantham blamed a “horror show” of Fed policies for a bear market he says likely won’t bottom out until late next year.

WEKU

A Silicon Valley lender collapsed after a run on the bank. Here's what to know

Silicon Valley Bank was taken over by federal regulators on Friday, capping a spectacular collapse after the lender suffered a run on deposits.

Fortune

Could Silicon Valley Bank contagion spread to the crypto industry?

The stunning failure of the tech behemoth comes on the heels of Silvergate Bank.

Investors Business Daily

Biotech, Banking Stocks Tumble As Federal Officials Seize SVB Deposits

The federal government's takeover of Silicon Valley Bank on Friday sent shock waves through the medical sector and hammered biotech stocks.

Axios

This weekend is everything for Silicon Valley Bank and its customers

The next three days will determine if the situation escalates from an inconvenience to a crisis for SVB clients, most of which are businesses that need to meet payroll.

Fortune

Silicon Valley Bank just sucked all the oxygen out of SXSW

Just as Silicon Valley entrepreneurs were landing in Austin for the annual South by Southwest celebration, the startup industry's primary bank collapsed.

Bangkok Post

Markets in turmoil as US closes Silicon Valley Bank

SANTA CLARA (UNITED STATES) - US regulators shut down Silicon Valley Bank on Friday in a spectacular move that sent global banking shares into turmoil, as markets fretted over possible contagion from the biggest banking failure since the 2008 financial crisis.

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