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Sunday, June 23, 2024

More than 85% of Silicon Valley’s Bank’s Deposits Were Not Insured. Here’s What That Means for Customers

Silicon Valley Bank was aptly named: It held the funds of hundreds of U.S. tech companies and was a crucial player in the valley’s economy. But on Friday, it became the second largest bank failure in U.S. history after a rapid run on its deposits. Some $175 billion in customer accounts were taken …

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