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The biggest banking collapse since 2008 explained. And how it will impact the crypto markets.
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#SiliconValleyBank ('SVB') was the 16th biggest bank in the US.
Primarily servicing US technology startups.
Primarily servicing US technology startups.
During COVID, SVB massively benefited from the tech startup golden period.
In lockdown, tech companies did very well providing entertainment & delivery services.
These companies' excess cash was stored with SVB in the form of deposits.
In lockdown, tech companies did very well providing entertainment & delivery services.
These companies' excess cash was stored with SVB in the form of deposits.
