Silicon Valley Bank meltdown sparks contagion fears: ‘We found our Enron’
Peter Thiel's venture capital firm Founders Firm advised clients to withdraw their deposits from the bank
Fears of a broad financial contagion spread on Friday after tech lender Silicon Valley Bank set off alarm bells over liquidity concerns — sparking share losses across the banking sector worth some $52 billion on Thursday.
On Friday, the Federal Deposit Insurance Corp. said regulators have shut the bank down to protect insured deposits. ---More...
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