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As another startup bank partner collapses, tech feels the gap

As another startup bank partner collapses, tech feels the gap

a year ago
Anonymous $KxGqLmj_R3

https://techcrunch.com/2023/05/02/as-another-startup-bank-partner-collapses-tech-feels-the-gap/

When First Republic Bank was in its final moments, Silicon Valley didn’t convulse with shock or lather itself into a social media tizzy.

Instead of panic, which rippled throughout the startup community in March when Silicon Valley Bank signaled trouble, there was widespread malaise. Part of the reason for that may be that we’ve been here before, and part of the reason may be that FRB had a faster resolution than SVB: Earlier this week, FRB was officially put under FDIC receivership so its assets could be sold to a bidder.