Posts tagged "bank collapse"

Canva co-founder Cliff Obrecht has vowed to support Silicon Valley Bank should it come back from the dead, after the financial institution, which reportedly carried cash deposits for the graphic design titan, suffered one of the most spectacular bank collapses since the 2008 Global Financial Crisis.

The short answer is that SVB did not have enough cash to pay depositors so the regulators closed the bank. The longer answer begins with investment decisions made during the pandemic.