# Here’s how the second-biggest bank collapse in U.S. history happened in just 48 hours

- Link: https://www.widthness.com/heres-how-the-second-biggest-bank-collapse-in-u-s-history-happened-in-just-48-hours/
- Published: 2023-03-11T09:00:19-06:00
- Author: Curated by John Wysocki

Photo caption: A Brinks armored truck sits parked in front of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. Photo credit: Justin Sullivan | Getty Images. Article by Hugh Son, Rohan Goswami, Jonathan Vanian. CNBC – March 10, 2023. Key Points The company’s downward spiral began late Wednesday, when it surprised investors with news that it needed to raise $2.25 billion to shore up its balance sheet. “This was a hysteria-induced bank run caused by VCs,” Ryan Falvey, a fintech investor of Restive Ventures, told CNBC. All told, customers withdrew a staggering $42 billion of deposits by the end of Thursday, according to a California regulatory filing. Now, those who remained with SVB face an uncertain timeline for retrieving their money. […] Click here to view original web page at www.cnbc.com