What happened?
If you have not heard of Silicon Valley Bank (SVB), you might be wondering what the impact of the bank’s collapse on financial markets might be. SVB’s failure is significant as it is the largest bank failure in the US since the global financial crisis. Let’s take a deeper look to understand more about what happened and what to look out for from here. Source: GoogleWhat you need to know about the Silicon Valley Bank collapse
#1 – Silicon Valley Bank is a US bank that served many tech startups
Silicon Valley Bank (SVB) served mainly startups and investors active in the industry. According to the company, it serves nearly half of all US venture-backed startups. Notable companies that are customers of SVB include Roku, Roblox, Pinterest and Shopify. SVB was the 16th largest bank in the US prior to its collapse, according to the Federal Reserve. The bank had...
