A leading bank serving the technical community, <a href="https://www.nytimes.com/2023/03/10/business/silicon-valley-bank-stock.html" rel="noopener noreferrer" target="_blank" style="color: rgb(60, 145, 218); background-color: rgb(255, 255, 255);">Silicon Valley Bank (SVB), has failed</a> and nearly nearly $175 billion in customer deposits under the control of the <a href="https://www.fdic.gov/news/press-releases/2023/pr23016.html" rel="noopener noreferrer" target="_blank" style="color: rgb(60, 145, 218); background-color: rgb(255, 255, 255);">Federal Deposit Insurance Corporation (FDIC)</a>. The customer’s first $250,000 of deposits is covered by FDIC insurance, but any amount over that is not guaranteed to be reimbursed. The Silicon Valley Bank did have a lot of assets, but they are not immediately liquid. The FDIC will be selling off those assets to reimburse the non-insured amounts, but that could take some amount of time. So this will cause some startups great difficulties because they will not be able to withdraw cash to meet their daily operating requirements. <a href="https://quantumcomputingreport.com/silicon-valley-bank-failure-impact-on-quantum-our-interim-poll-results/" rel="noopener noreferrer" target="_blank" style="color: rgb(66, 66, 66);">read more ..</a>

Silicon Valley Bank Failure, Impact on Quantum – Our Interim Poll Results

Quantum Computing Report 6 days ago

Quantum Computing Report