Silicon Valley Bank collapses in biggest American bank failure since 2008 financial crisis - Latest Tech, Mobile News, Gadgets & Reviews Update |Techbrinks

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Saturday 11 March 2023

Silicon Valley Bank collapses in biggest American bank failure since 2008 financial crisis


Silicon Valley Bank failed Friday, putting almost $175 billion, including money from some of the biggest tech companies, under the Federal Deposit Insurance Corporation's (FDIC) control. The bank had been a significant venture capital funding source for technology companies, the New York Times reported.

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