The Latest Breaking News from SVB

Greg Becker sat in a red armchair at an invite-only conference in Los Angeles last week, legs crossed, one hand cutting through air.

Silicon Valley Bank, which catered to the tech industry for three decades, collapsed on March 10, 2023, after the Santa Clara, California-based lender suffered from an old-fashioned bank run. State regulators seized the bank and made the Federal Deposit Insurance Corporation its receiver.

Shutdown and takeover of bank by regulators can be traced to the Fed raising interest rates and risk-averse investors

“We do not believe there is contagion risk for the rest of the banking sector on the heels of SVB's struggles,” David Trainer, CEO of the investment research firm New Constructs, told Fortune.

“I've never seen a balance sheet crumble this quickly,” says Dale Wettlaufer, a partner at Bleecker Street Research who shorted the stock in January.

The tech and VC sector's most reliable lender collapsed literally overnight. How did that happen?

Founders who spoke with Fortune are frantically trying to untangle when they’ll get any money back—and how long they can make payroll.

Grantham blamed a “horror show” of Fed policies for a bear market he says likely won’t bottom out until late next year.

Silicon Valley Bank was taken over by federal regulators on Friday, capping a spectacular collapse after the lender suffered a run on deposits.