FDIC shuts down Silicon Valley Bank, crash incoming? Update: 2nd bank, Signature Bank in NY closed

bnew

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Mike Ock

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:aicmon: My company is one of the startups that had our USD account with SVB. Couldn't make any transfers today from the account. Hoping we can recover some mills on Monday. Not sure what scraps we'll recover.
Luckily we were acquired by a huge company 2 years ago, so we are essentially are their employees but act as individual entity. They got a large bankroll, and we will end up borrowing from them. Bout to get my resume together just in case.
:whew: Recovered all our funds and transferred all of it out of SVB.
 
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