Written by Jesse RogalaPublished Mar. 10, 2023 • 2:15pm
The FDIC just shut down Silicon Valley Bank, a Santa Clara-based institution that has been a major financial partner for startups around the globe for four decades.
This is the second biggest bank to fail in U.S. history, and the biggest bank failure since the 2008 financial crisis.
So what exactly happened and what comes next? Here’s everything you need to know in two minutes.
Jesse Rogala can be reached at [email protected]