Silicon Valley Bank seized by regulators after customer run

Silicon Valley Bank seized by regulators - your guide to WTF is going on

Silicon Valley Bank was shut down on Friday by the California Department of Financial Protection and Innovation because it ran out of money.

The state financial watchdog, citing the bank's"inadequate liquidity and insolvency," turned the VC finance house over to the Federal Deposit Insurance Corporation , which is now tasked with returning customers' deposits within legal requirements - which is going to leave many investors out of pocket.,"All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023.

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