SVB Financial Group Inc SIVB

Founded over a poker game, this banking group is famous for providing services to startups and venture capitalists.

https://www.bloomberg.com/news/articles/2023-03-09/founders-fund-advises-companies-to-withdraw-money-from-svb

101 how to start a bank run….

1 Like

Thank you Freetrade for saving me a fat loss. I thought I was getting it at a discount on Friday was convinced it was FUD and they would get bought out, only for it to half in price and then vanish.

I pray the UK arm gets deposits backed by treasury or something like that as there are so many employees livelihoods on the line

Didn’t think something like this was posible

1 Like

Anyone know who Freetrade banks with?

For those interested in exactly what happened with SVB and how it might effect the market, Ramin at PensionCraft did a video explainer.

TLDR it’s those pesky long dated bonds again, and it depends how investors react and what the authorities do; but they will act quickly and decisively to try and avoid chaos. UK is much safer than US as it is less tech focussed.