
Startup-focused financial group Silicon Valley Bank (SVB) last week became the biggest bank to fail since the 2008 financial crisis, sending shockwaves through the global financial system and prompting regulators to step in to limit the fallout.
The crash also raised concerns that rising interest rates could expose the vulnerability of the global economy as decades of cheap money come to an end.
Reuters compiled a list of companies around the world that have bank deposits:
NORTH AMERICA
Companies in the United States have more than $4 billion on deposit, in addition to various loans, in the bank.
ROBLOX
The online gaming company says about 5 percent of its $3 billion in cash and securities, or about $150 million as of Feb. 28, was held at SVB.
ROKU
The streaming device maker says it has about $487 million, or 26 percent of its cash, on deposit with SVB.
BUZZFEED
The digital media company said it had about $56 million in cash and cash equivalents at the end of 2022, most of which was held by SVB.
ACUITYADS HOLDINGS INC.
The Canadian technology firm claims it held US bank accounts with SVB totaling $55 million in deposits.
ASTRA SPACE INC
The missile maker says its cash is on deposit with SVB, amounting to about 15% of the company’s current funds, cash equivalents and marketable securities as of March 10.
COHU INC
The semiconductor maker says it has deposit accounts with SVB with a total balance of about $12.3 million, about 3.8 percent of the company’s total cash and investments.
ROCKET LAB USA INC
The missile maker says it had deposit accounts with SVB with a total balance of about $38 million, or about 7.9 percent of total cash and cash equivalents and marketable securities as of Dec. 31.
LANTRONIX INC
The networking products maker says it had about $6.7 million in deposits with SVB as of March 10, about 85 percent of its total outstanding deposits.
Lantronix adds that it is exploring options for financing its operations in the event of unforeseen circumstances if it is unable to return its deposits to SVB.
ALKAMI TECHNOLOGY INC.
The digital banking solution provider says it had deposit accounts with SVB with a total balance of about $3.3 million, as well as about $8.3 million in accounts used by SVB to buy foreign assets.
FIXED GRID
The online styling services firm says it expects a $40 million credit line it had with SVB will not be available because of the bank’s collapse. The line of credit was part of a $100 million settlement that Stitch Fix was to receive from three lenders — SVB, JPMorgan Chase Bank and Citibank.
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American cryptocurrency company Circle says $3.3 billion of its $40 billion coin reserves are in SVB.
BLOCKFI
Bankrupt cryptocurrency lender BlockFi Inc has about $227 million in unsecured funds with SVB, the Wall Street Journal reported on Friday.
PAYONEER GLOBAL INC
The global payments provider said that of its total cash balances as of Dec. 31, about $6.4 billion, less than $20 million, was with SVB.
LENDINGCLUB CORP
The finance company, which had total assets of $8 billion as of Feb. 28, said its relationship with SVB was limited to $21 million of funds on deposit, adding that it did not pose a risk to the company’s current operations.
VIR BIOTECHNOLOGY
The biotech firm says it maintains about $220 million in operating accounts at SVB as of Friday.
SUNRUN
Residential solar company Sunrun Inc says it has cash deposits with SVB totaling nearly $80 million.
SUNNOVA ENERGY INTERNATIONAL INC.
The Sunnova subsidiary is part of a credit facility in which SVB acts as a lender, with an unsecured commitment of USD 15 million under the reverse credit facility.
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Source: Hot News

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