Mauricio Costa was inspired by stories about the bank’s demise and is giving them a gospel and hip-hop treatment in a new musical. How one software engineer is turning Silicon Valley Bank’s collapse story into a musical by Christine Hall originally published on TechCrunch
In the wake of FRB’s collapse, founders and investors continue to wonder: where is the best place to protect important assets? As another startup bank partner collapses, tech feels the gap by Christine Hall originally published on TechCrunch
Flagstar Bank, a subsidiary of New York Community Bancorp, has signed a takeover agreement with U.S. regulators for some of Signature Bank’s assets and loans. Earlier this month, after Silicon Valley Bank’s customers all tried to withdraw their funds at the same time, Signature Bank was the second victim of a bank run. Both banks…
One week after trading was halted for SVB Financial and regulators took control of the holding company for Silicon Valley Bank and other subsidiaries, SVB Financial has taken the next inevitable step: today it announced that it has formally filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of…
UK tech founders, investors, and ecosystem leaders have been giving their reactions to the news that SVB UK will be rescued by HSBC. In addition, many startup founders and investors pointed to the leg-work done by industry body Coadec, which is now raising funds for further work. Andrew J Scott Founding Partner 7pc VC “It…
As Silicon Valley Bank collapsed before our eyes on Thursday, a founder told me that the world felt like it did when COVID-19 first bared its teeth. I scoffed at his analogy at first: are we really using a still on-going and devastating pandemic to describe the fall of a prominent bank? But then I…
As Silicon Valley Bank collapsed before our eyes on Thursday, a founder told me that the world felt like it did when COVID-19 first bared its teeth. I scoffed at his analogy at first: are we really using a still on-going and devastating pandemic to describe the fall of a prominent bank? But then I…
Global payroll provider Deel plans to provide $120 million of its own cash off its balance sheet to support startups’ payroll operations in the wake of Silicon Valley Bank shutting down. It has teamed up with Andreessen Horowitz (a16z) and Y Combinator – both of which are investors in Deel – to offer the support…
Two of tech’s biggest entrepreneurs, OpenAI CEO Sam Altman and storied venture capitalist Vinod Khosla, are offering personal capital to startups on the brink of SVB collapse as their money remains locked up at Silicon Valley Bank. The bank, which was shut down and taken over by regulators on Friday, is involved with nearly half…
An auction for the remaining assets of the failed Silicon Valley Bank is reportedly underway, with final bids due this afternoon and a result potentially arriving late Sunday, according to Bloomberg. Bloomberg says that the U.S. Federal Deposit Insurance Corp. (FDIC), which stepped in and shut down SVB on Friday as it was experiencing an unprecedented…
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