Silicon Valley’s biggest bank earlier this month following a dramatic run on the banks. Prior to its failure, the second largest of any bank in U.history, SVB was the preferred bank for the tech sector and reportedly served nearly half of all venture capital-backed startups in the country. If left unchecked, regulators believed SVB’s sudden collapse could pose a systemic risk to the entire financial sector. U.
This article is part of a developing story. Our writers and editors will be updating this page as new information is released. Please check back again in a few minutes to see the latest updates. Meanwhile, if you want more news coverage, check out our