With around $209bn in assets, SVB is the second-largest bank failure in US history after the 2008 collapse of Washington Mutual. She said it had been 'the worst 18 hours of my life.' Investors are only insured up to $250,000 and there have already been horror stories. Ashley Tyrner, CEO of Boston wellness firm FarmboxRx, said she had at least $10m deposited with SVB and has been frantically calling her banker. The Federal Deposit Insurance Corporation (FDIC) seized SVB's assets today after depositors - mostly tech workers and start-up firms - triggered a run on the bank following the shock announcement of a $1.8bn loss. The bank took a hammering in pre-market with its price plunging 66 percent before trading was halted. Police were called after 'about a dozen' financiers, including former Lyft executive Dor Levi, showed up outside the building on Park Avenue as investors scrambled to get their money out amid the biggest collapse since the Great Recession.
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