The Everyman's Guide to SVB's Fall - Here's What Actually Happened

Silicon Valley Bank, the Northern California-based go-to financial institution for venture capitalists and tech entrepreneurs, shuttered its doors on Friday after 40 years in business.

The bank’s closure has sent shockwaves through the financial sector. The fall of the bank created such a panic that President Joe Biden, Treasury Secretary Janet Yellen, and U.S. Federal Reserve chair Jerome Powell each took measures to try and prevent both large-scale hysteria and economic collapse

Those moves might prove quick enough to prevent a domino effect that takes numerous regional banking chains with SVB into insolvency.

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Johnathan Jones

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Johnathan Jones has worked as a reporter, an editor, and producer in radio, television and digital media.

Johnathan "Kipp" Jones has worked as an editor and producer in radio and television. He is a proud husband and father.

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