stated an accounts balance with SVB that totaled less than $250,000, which means it will be insured by the Federal Deposit Insurance Corporation .selling handmade and vintage items, has also been forced to delay vendor contract payments.
A spokesperson for Etsy said in a statement that the company is working "around the clock" to find a solution and intends to pay sellers via other payment partners in the next few days.Though most of these companies noted in their filings that they do not believe SVB's collapse will significantly hinder their operations, it remains unclear how much money they will be able to recover.
Fractional reserve banking, high leverage, low liquidity, and incompetent regulators What could possibly go wrong with the banking system?
Roku ain’t a start-up.