US regulators will protect all deposits at Silicon Valley Bank
, which will have full access to their funds as of today. At the same time, officials said there will be"no bailouts" and that shareholders and unsecured creditors won't be protected.
The FDIC took over SVB on Friday following the largest US bank collapse in nearly 15 years. There were concerns that numerous tech startups and companies wouldn't be able to make their payrolls, and Etsy said yesterday that payments to merchants may be delayed. On Friday, Roku announced that it couldclosed by regulators
Silvergate, another institution popular with crypto exchanges , collapsed on March 8th. That marks a run of three key banks with ties to technology firms closing in the space of a week.
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