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Peter Thiel's venture capital firm Founders Firm advised clients to withdraw their deposits from the bank

Silicon Valley Bank meltdown sparks contagion fears: ‘We found our Enron’


By News on the Net -- New York Post——--March 10, 2023

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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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