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EMERGENCY POD: $SVIB implodes, contagion risk, advice for founders, and what’s next? | E1696
This Week in Startups
Silicon Valley Bank - Is SVB Gonna Be Able to Pay Out All of Its Clients?
Silicon Valley Bank sold $21 billion of its security portfolio, which CNBC noted mostly consistent with US treasury bonds. The bank was trying to rework the balance sheet and that, I think, got everybody panicked. With this announcement, SVB essentially hit the starters pistol for the bank run.
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