Finance
Why Is Everyone Talking About SVB? Everything We Know About the Bank’s Collapse Right Now
WATCH: SVB Races to Avoid Bank Run as Funds Advise Pulling Cash
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The collapse of a lender little-known outside of Silicon Valley is reverberating around the startup world and deepening uncertainty within the financial industry.
On Friday, California regulators closed Silicon Valley Bank and sent it into receivership. That was after an attempted share sale by the company failed and startups began pulling their funds at the urging of venture capital firms.