Silicon Valley Bank's collapse shook the tech industry over the past week. Their annoucement of needing to raise $2.25 billion to clean up its balance sheet led to its shutdown, leaving tons of tech startups and VC funds unable to access their funds. Even though SVB has resumed operations with FDIC in charge, market experts expect it will impact further market recession. Being the financial backbone of many tech companies, the industry looks with uncertainty at the future.
Being the largest bank crash after the 2008 financial crisis, the technology sector takes yet another hit, while already struggling with massive layoffs, budget cuts and fundraising halts. When will the sector start seeing some relief?
We gathered a few data points to create a better view on the Silicon Valley Bank collapse and its impact. In the dashboard below, you'll discover some key statistics.
Play around with the interactive dashboard below to get a better understanding of the magnitude and impact of this bank crash.
Data sources used in this dashboard:
Largest bank failures in the United States as of 2023, by total assets, Statista.
Bank Failures in Brief – Summary 2001 through 2023, FDIC.
Silicon Valley Bank: Q4 2022 Financial Highlights, SVB.