Roblox is being handed $150 million by government after bank collapse, money isn't real:
on its balance sheet last week when panicky venture capitalists tried to pull out their money en masse after worries the firm had become insolvent. Roughly $150 million of that belonged to Roblox, something the company revealed in an SEC filing late Friday after SVB was shut down by the Federal Deposit Insurance Corporation.
“Of Roblox Corporation’s $3 billion of cash and securities balance as of February 28, 2023, approximately 5% is held at Silicon Valley Bank,” . “Thus, regardless of the ultimate outcome and the timing, this situation will have no impact on the day to day operations of the Company.”At the time, it seemed like everyone who gave SVB its money was never going to see it again. Normally, bank deposits are only insured up to $250,000. On Sunday, however, the Federal Reserve and FDIC invoked a systemic risk exception
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