Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
612-822-4611

  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The Fall of Silicon Valley Bank: How a Tech Giant Crashed and Burned

The Fall of Silicon Valley Bank: How a Tech Giant Crashed and Burned

Ike, Oluchi

Paperback

AccountingGeneral Education

ISBN13: 9798388996800
Publisher: Independently Published
Published: Mar 28 2023
Pages: 102
Weight: 0.57
Height: 0.21 Width: 8.50 Depth: 11.00
Language: English
Silicon Valley Bank collapsed one Friday morning after a stunning 48 hours in which a bank run and a capital crisis led to the second-largest failure of a financial institution in US history . The bank's customers were composed largely of startups and other tech-centric companies that needed more cash over the past year. So they began withdrawing their deposits⁵. The collapse triggered a crisis for tech startups, which have relied on the Santa Clara-based bank for decades⁵⁶. Silicon Valley Bank's implosion is the largest American bank failure since the 2008 financial crisis⁵. The bank was the biggest U.S. lender to fail since the 2008 global financial crisis - and the second-biggest ever3. The bank was put under the control of the US Federal Deposit Insurance Corporation . The collapse of Silicon Valley Bank is a cautionary tale of trust and accountability in banking⁴.

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