MONEY

Major Bank for Venture-Backed Founders Seized After Customers Pulled Cash

Tech entrepreneurs were reportedly were being advised to pull at least two months' worth of 'burn' cash out of Silicon Valley Bank to cover their expenses.

By ASSOCIATED PRESS

People line up outside of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. Getty Images

MONEY By ASSOCIATED PRESS

Major Bank for Venture-Backed Founders Seized After Customers Pulled Cash

Tech entrepreneurs were reportedly were being advised to pull at least two months' worth of 'burn' cash out of Silicon Valley Bank to cover their expenses.

By ASSOCIATED PRESS

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