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Al Jazeera

'We can't operate': Firms scramble after bank collapses

Al Jazeera ·
Al Jazeera
Al Jazeera

U.S regulators have shut down Silicon Valley Bank in what has become the largest failure of a US bank since the 2008 financial crisis. The firm was the institution of choice for some of the world's largest and most successful start-ups and VC's, with many now fearing they'll be able to make payroll. In a statement to employees, the bank said it was engaged in talks to determine the next steps.