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Hi, Crunchers,
Today, there’s only one story on everyone’s lips: The sudden and dramatic collapse of Silicon Valley Bank (SVB), the 40-year-old Silicon Valley institution. With $209 billion of assets under management at the time of its failure, it’s the second-largest bank failure in U.S. history.
A huge number of startups suddenly found themselves in a pickle as the bank went through a Swift-Velocity Breakdown. In this special edition of the Daily Crunch, we summarize what the Sudden Value Bust means across the industry.
— Haje
The TechCrunch Top Story
Regulators stepping in: Natasha M reports that the bank and its 17 branches were closed by the California Department of Financial Protection and In …
