A tech CEO with $10 million stuck in Silicon Valley Bank says she has 'no idea what's going on'
that all insured depositers will get full access to their cash by Monday. However, a large chunk of funds held by SVB will not be covered by FDIC insurance.that her company only learned about the problems at SVB"when the media found out." She was still trying to pull her money from the bank as of Friday morning when the FDIC announced its intervention.
"I've spent the last 24 hours on the phone with other friends and founders who are in a much more difficult position," Tyrner said Saturday."My whole heart goes out to all of those impacted by this tremendous blow to the technology and startup world. We are continuing to root for everyone and are hopeful for a quick turn around."
She added:"Of all of the wild things I've encountered as a minority female entrepreneur, a bank collapse was not on my radar. FarmboxRx is fortunate to have made the decision to diversify our banking and capital strategy prior to what happened with SVB, enabling us to continue business operations without impact."
SVB didn't immediately respond to a request for comment from Insider, made outside of typical working hours. Subscribe to push notifications
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