March 2023. Silicon Valley Bank. A bank failure. In a span of just two days, the once solvent Silicon Valley Bank (SVB) suffered a major bank collapse that soon led to its termination. As a result of inflation and other economical issues, many people/tech companies (most of those using SVB were from the technology sector) were struggling, so they wanted to withdraw their money. However, too many people wanted their money, and SVB did not have all these people’s money; they, instead, decided to invest it to create a stream of income. Consequently, this plan backfired and eventually caused SVB to collapse.
The American Times 