Silicon Valley Bank is no "small potatoes" financial institution:  It's the 16th biggest bank in the entire country and has assets valued around $210-BILLION.

And today, Silicon Valley Bank collapsed.

The bank that had specialized in being a source of financing for venture capitalists and tech startups was formally taken over by the FDIC this morning.

This is considered to be the second biggest bank failure in the nation's history.  Tech firms like Roku, Roblox, Airbnb and more held accounts worth billions at SVB.

Felix Salmon is the Chief Financial Correspondent for Axios.

Silicon Valley Bank is no "small potatoes" financial institution:  It's the 16th biggest bank in the entire country and has assets valued around $210-BILLION.
And today, Silicon Valley Bank collapsed.
The bank that had specialized in being a source of financing for venture capitalists and tech startups was formally taken over by the FDIC this morning.
This is considered to be the second biggest bank failure in the nation's history.  Tech firms like Roku, Roblox, Airbnb and more held accounts worth billions at SVB.
Felix Salmon is the Chief Financial Correspondent for Axios.

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