Silicon Valley Bank was prevented by the federal government from opening on Friday, prompting its customers to try to get their funds out of the bank and the Federal Reserve to set up a new program to give banks access to emergency funds.
By the close of business on Thursday, SVB depositors had attempted to withdraw $42 billion from the bank that catered to startups.
Here are some of the companies affected by the fall of Silicon Valley Bank:
- BlockFi: The cryptocurrency company BlockFi has $227 million invested in a money market mutual fund offered by SVB
- Circle: A payments-technology firm, Circle said Friday that $3.3 billion of the $40 billion of its USD Coin (USDC) cryptocurrency reserves remained at Silicon Valley Bank.
- Etsy: The online marketplace warned users Friday that some deposit payments had been delayed. Etsy would not say how much money it has tied up with the bank.
- LendingClub: The financial services company said it had $21 million at the bank.
- Roblox: The online gaming platform had about $1.5 billion in SVB.
- Rocket Lab USA: The aerospace manufacturer and launch service said it has approximately $38 million in deposits with SVB.
- Roku: The streaming device company had about $487 million in SVB.
- VIR BIOTECHNOLOGY: The biotech firm said it had about $220 million on Friday.
- Sunrun: A residential solar company, Sunrun reported it has nearly $80 million in SVB.
- LIFE360: The location-sharing company has around $5.6 million in the bank.
Sources: Barrons; The Washington Post; Reuters
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