Shopify became a White Knight for some of its merchants who used Silicon Valley Bank by making what was a rare move in the cutthroat world of big business this week.
in U.S. history and the largest since 2008 when Washington Mutual collapsed.
A pedestrian speaks on a cellphone as he walks past Silicon Valley Bank headquarters in Santa Clara, California, on March 10, 2023.we have not yet had access to our funds all week," Bernstein wrote. "After some scrambling trying to come up with a plan to take care of my employees, I faced the very real possibility that for the first time in four years, we were going to miss payroll," he said.
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