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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 […]

Silicon Valley’s surreal weekend by Natasha Mascarenhas originally published on TechCrunch

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 […]

Deel makes over $120M of its own cash available to support customers affected by SVB crisis by Natasha Mascarenhas originally published on TechCrunch

The Federal Reserve issued a joint pair of statements on Sunday with one clear message: Silicon Valley Bank’s depositors, both insured and uninsured, will receive help in a manner that will “fully protect” all. Depositors, the statement reads, “will have access to all of their money starting Monday, March 13. No losses associated with the […]

Silicon Valley Bank’s depositors will be fully protected, according to the Federal Reserve by Natasha Mascarenhas originally published on TechCrunch

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 […]

Sam Altman, Vinod Khosla say they’ll personally loan cash to startups in the wake of SVB collapse by Natasha Mascarenhas originally published on TechCrunch

In the US today, The Federal Deposit Insurance Corp. continued the auction process for the beleaguered Silicon Valley Bank, with final bids due by Sunday afternoon, according to Bloomberg. Any agreed sale may not be known until late Sunday, if at all. It’s still possible that no deal will be reached and the bank will […]

As the SVB auction continues, the sale of its UK arm bounces between potential suitors by Mike Butcher originally published on TechCrunch

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 […]

FDIC auction for SVB assets said to be underway by Darrell Etherington originally published on TechCrunch