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Shane Mahabir
March 11, 2023
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Here’s how the second-biggest bank collapse in U.S. history happened in just 48 hours

  • The company’s downward spiral began late Wednesday, when it surprised investors with news that it needed to raise $2.25 billion to shore up its balance sheet.

  • “This was a hysteria-induced bank run caused by VCs,” Ryan Falvey, a fintech investor of Restive Ventures, told CNBC.

  • All told, customers withdrew a staggering $42 billion of deposits by the end of Thursday, according to a California regulatory filing.

  • Now, those who remained with SVB face an uncertain timeline for retrieving their money.



Here's how the second-biggest bank collapse in U.S. history happened in just 48 hours
www.cnbc.com
Here's how the second-biggest bank collapse in U.S. history happened in just 48 hours
As dust begins to settle on the biggest American bank failure since 2008, members of the VC community lament the role other investors played in SVB's demise.

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STEVE BENJAMIN
STEVE BENJAMIN
16 mar 2023
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Government bail out as it's on the government balance sheet.

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