SVB 2023 crash

In early March a run on Silicon Valley Bank led to its takeover by the Federal government. During the following weekend, the startup and venture capital industry around the world was in crisis, as SVB banked both companies and their backers. The American government announced before the week started that depositors would be whole, and liquid on Monday, March 13. The story is not over. SVB affiliates around the world are still being sorted out, other banks are under pressure, and a second crypto-friendly bank was also taken over by the government. TechCrunch is working to better understand how founders are impacted in the wake of the initial crisis, and what’s ahead.