talltim007
talltim007 t1_jckzydy wrote
Reply to comment by BrandTheBroken in Peter Thiel says he had $50M in SVB when it collapsed. by PossessionStandard42
Investors lost it all. The bank doesn't exist as an ongoing concern and is in receivership. Lots of drama, the FDIC did it's job and protected depositors but deposits above 250k were not guaranteed on Friday of last week.
talltim007 t1_jckzriy wrote
Reply to comment by 0Ring-0 in Peter Thiel says he had $50M in SVB when it collapsed. by PossessionStandard42
What are you talking about?
talltim007 t1_jcl1ost wrote
Reply to comment by BrandTheBroken in Peter Thiel says he had $50M in SVB when it collapsed. by PossessionStandard42
Because trying to sell them all as fast as depositors withdrew them was impossible.