Up until last Friday, SVB was the 16th largest bank in the USA. The bank was worth a whopping $200 Billion. ‘Was’ is the operative word here, as a series of unfortunate financial decisions has now led to its collapse.
Silicon Valley Bank (SVB), a prominent financial institution in the technology industry, has experienced significant financial losses which have led to its collapse. The collapse of SVB has far-reaching consequences for the tech industry, as it has played a crucial role in financing and supporting startups and established technology companies.