https://www.zerohedge.com/markets/record-bank-run-drained-quarter-or-42-billion-svbs-deposits-hours-leaving-it-negative-1bn USDC - Crypto Stablecoin run by Circle - Silicon Valley Bank is one of six banking partners Circle uses for managing the ~25% portion of USDC reserves held in cash. While we await clarity on how the FDIC receivership of SVB will impact its depositors, Circle & USDC continue to operate normally.
ROKU - Roku had 26% of its cash, $487 million with Silicon Valley Bank
BLOCKFI - BlockFi has $227 million in "unprotected" funds in Silicon Valley Bank, according to a bankruptcy document, and may be in violation of U.S. bankruptcy law.
RBLX - Roblox said 5% of its $3b cash and securities balance is held at SVB.
DNA - Gingko Bioworks: Only the cash balance of the company's wholly-owned subsidiary Zymergen Inc. is held in deposit accounts at SVB, representing approximately $74M or 6% of the company's cash and cash equivalents as of December 31, 2022
RKLB - RocketLab USA had about $38 million in its accounts with the bank, representing about 7.9% of the startup’s cash and equivalents
LC - Lending Club warned about potentially losing funds on deposit at SVB of $21 million, said amount isn't material to its liquidity position or capital levels, and doesn't pose a risk to the group's business or operations.
PAYO - Payoneer: Of the company's approximately $6.4B in total cash balances as of December 31, 2022, less than $20M is held at SVB
PTGX - Protagonist Therapeutics considers its exposure to any liquidity concern at SVB to be limited, given that cash held at SVB is approximately $13 million as of March 9, 2023.
ACHR - Archer Aviation entered into a $20 million loan with SVB in 2021, $10 million of which is due for repayment in 2023
COHU - Cohu announced that it has deposit accounts with SVB with an aggregate balance of approximately $12.3M, which is approximately 3.8% of the company's total cash and investments.
IGMS - IMG Biosciences: 'As of March 10, 2023, the Company holds less than $5.0 million in deposits at SVB. Therefore, the Company believes it does not have any material exposure to any liquidity concerns at SVB.'
RYTM - Rhythm Pharmaceuticals announced that it has deposit accounts with SVB with an aggregate balance of approximately $3.4 million, which is approximately 1.1% of the Company's total cash and cash equivalents.'
SYRS - Syros Pharmaceuticals discloses that, as of March 10, 2023, it has two deposit accounts at Silicon Valley Bank. One of these accounts has a balance of less than $250,000, and the other has a balance of approximately $3.1 million pursuant to a letter of credit that the Company was required to provide to its landlord in connection with the execution of the lease for its corporate headquarters...
EYPT - EyePoint Pharmaceuticals currently maintains a de minimis amount of cash, in the single digit millions of U.S. dollars, with Silicon Valley Bank (SIVB)
ATRA - Atara Biotherapeutics currently maintains an account at Silicon Valley Bank (“SVB") holding cash deposits of approximately $2 million, which amount the Company considers to be immaterial to its liquidity.'
ISEE - Iveric Bio currently maintains a de minimis amount of cash and cash equivalents, in the low single digit millions of U.S. dollars, with Silicon Valley Bank ("SVe").'
VERA - Vera Therapeutics currently holds approximately 1.2% of its cash and investments with SVB. Accordingly, the Company considers its risk exposure relating to SVB to be minimal.
XFOR - X4 Pharmaceuticals had approximately 2.5% of its cash deposits with SVB.
CTMX - CytomX Therapeutics does not consider its exposure to any liquidity concern at SVB to be significant. The cash held at SVB in CytomX’s operating CTMX account is at or near the FDIC-insured limit of $250,000. CytomX also maintains a deposit account at SVB under a standby letter of credit issued pursuant to its office lease for approximately $917,000.'
AXSM - Axsome Therapeutics has material cash deposits with SVB.
WVE - Wave Life Sciences aggregate amount of the company's cash and restricted cash held at SVB is approximately $1.5M.
JNPR - Juniper Networks maintains operating accounts at SVB with a minimal cash balance of less than 1% of the company's total cash
QS - QuantumScape has very limited exposure to SVB, with only a low single digit percentage exposure relative to both the Company's total liquidity and total assets.
[ + ] yesiknow
[ - ] yesiknow 2 points 2.1 yearsMar 10, 2023 22:14:08 ago (+2/-0)
China was sold half interest in SVB a few years ago and that makes it an economic storm worth weathering. It doesn't change the need to clear out the politicians, education and jews.
[ + ] FuckShitJesus
[ - ] FuckShitJesus [op] 1 point 2.1 yearsMar 10, 2023 23:11:27 ago (+1/-0)
This will create a tidal wave in the coming days (weeks?).
[ + ] HeyJames
[ - ] HeyJames 3 points 2.1 yearsMar 10, 2023 21:49:40 ago (+3/-0)
[ + ] FuckShitJesus
[ - ] FuckShitJesus [op] 2 points 2.1 yearsMar 10, 2023 23:10:51 ago (+2/-0)
Definitely more significant than almost everyone here can comprehend.
This is the first domino. The rest will fall, imminently.