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FORGOTTEN HISTORY: 28 | History Defined

UK racing to secure deal to protect firms from Silicon Valley Bank collapse

Rishi Sunak and Jeremy Hunt explore options to help tech and life sciences sectors

The Guardian - UK

More than 200 UK firms at ‘serious risk’ from Silicon Valley Bank collapse

Government ‘working at pace’ to limit damage, says chancellor

The Independent UK

Silicon Valley Bank collapse is 'serious risk' to UK firms as Tory 'urgency' slammed

Jeremy Hunt this morning said there is a 'serious risk' to UK tech firms following the collapse of Silicon Valley Bank - but Labour's Rachel Reeves said she is concerned about the urgency shown by the government

Daily Mirror

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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

FDIC races to start returning some uninsured SVB deposits Monday

U.S. regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion of clients’ uninsured deposits available as soon as Monday, according to people with knowledge of the situation.

Tribune News Service

Western housing markets—the epicenter of the home price correction—brace for another hit as Silicon Valley Bank’s collapse signals more tech pain

If tech layoffs continue to mount, it could keep housing markets out West in correction-mode.

Fortune

Mark Cuban urges Fed to buy Silicon Valley Bank debt ‘immediately,’ says it’s ‘not the wealthy taking the hit’

It's entrepreneurs and their employees and vendors who are "feeling the pain," Cuban said.

Fortune

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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

From Santa Clara to Shoreditch, SVB fallout spreads around world

The fallout from the collapse of Silicon Valley Bank is beginning to spread around the world.

Tribune News Service

Elon Musk is ‘open to the idea’ of buying Silicon Valley Bank as he lays Twitter payments groundwork

Musk is watching the Silicon Valley Bank failure with interest as he works to enable payments on Twitter.

Fortune

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

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

USD Coin value falls after revealing $3.3bn held at Silicon Valley Bank

The stablecoin fell as low as $0.87 as Circle broke the news that its reserves were at the collapsed lender

The Guardian - US

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Axios

SVB: A startup bank's rise and fall

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

The Independent UK

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

Evening Standard

‘We can’t make payroll’: scores of London tech firms in cash crisis amid Silicon Valley Bank collapse

The UK startup ecosystem is under immense strain today after the collapse of Silicon Valley Bank has prevented scores of startups from accessing the cash to pay staff.

WEKU

Silicon Valley Bank failure could wipe out 'a whole generation of startups'

The implosion of Silicon Valley Bank could force hundreds of tech startups to lay off workers or shut down completely. It remains unclear how much, if any, of depositors' money will be returned.

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Fortune

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."

Tribune News Service

SVB rocks California as founders join Napa vintners in fear

The shocking collapse of Silicon Valley Bank rippled across California Friday to industries far beyond the technology community that it played a major role in shaping.

Evening Standard

Silicon Valley Bank: Bank of England set to place UK arm into insolvency

Decision comes hours after US arm collapsed

The Conversation

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 New Daily

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

Fortune

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.

Los Angeles Times

Michael Hiltzik: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours

All banking crises throughout history have shared a common element: Short-term depositors try to withdraw their money from institutions locked into long-term assets.

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