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Umm our CEO just posted on the team channel that SVB is our bank and we don't know what happened yet What does this mean for the company I work for, are they s

• positr0n 4y ago
  Worse case, imho, is your company has trouble making the next payroll since most of it's funds are temporarily inaccessible. And after the dust settles they take a ~10% haircut on all the cash they had in the bank. SVB still has lots of assets, they just aren't very liquid and it's possible the value (if you sold them all today) isn't quite enough to cover all deposits.
  • egiops 4y ago
    Thanks for your opinion, this makes me feel a little bit better apart from all the doom and gloom