Author: News Desk

Silicon Valley Bank collapse If you work in the technology industry, it’s likely that you are familiar with Silicon Valley Bank. However, if you haven’t heard of this seemingly localised bank, don’t worry – it primarily served a specific clientele of startups, venture capitalists, and technology firms, with only a few branches despite holding billions in deposits. Unfortunately, the bank has since collapsed, marking the second-largest bank failure in US history, after banking regulators shut it down on Friday, March 10. Just two days before, Silicon Valley Bank had signalled a cash shortage and attempted to raise money by selling…

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