Skip to content

Silicon Valley Bank Seized by FDIC as Depositors Pull Cash “Discover the Power of Artificial Intelligence: Unlocking the Potential of AI!”

The Federal Deposit Insurance Corporation (FDIC) shut down Silicon Valley Bank on Friday, making it the largest bank failure since Washington Mutual during the 2008 financial crisis. The bank had been experiencing a run on deposits as tech workers and venture capital-backed companies had begun to withdraw their money. Silicon Valley Bank held $209 billion…