Posted on 03/11/2023 4:52:14 PM PST by zeestephen
Roku...The company that has built a brand on low-priced streaming devices said in a filing that it had about $487 million of its $1.9 billion at Silicon Valley Bank - Circle...Payments-technology firm Circle tweeted Friday that $3.3 billion of the $40 billion of its USD Coin (USDC) cryptocurrency reserves remained at Silicon Valley Bank - BlockFi...The defunct crypto lender BlockFi has $227 million at Silicon Valley Bank, according to a new bankruptcy filing...
(Excerpt) Read more at msn.com ...
Roblox ($150 million cash) - Compass Coffee (payroll may bounce) - Camp (toy store, most of cash in SVB) - Axsome Therapeutics (cash deposits frozen).
The stupidity and ignorance of American journalists never disappoints. WAPO would have its readers believe that roku has $400+M in cash deposits at SVB. Take it from me: they don’t. Almost all of those funds are in collateralized repurchase agreements. Roku will get all of its money back unless SVB has committed outright fraud.
This is worldwide … apparently tech companies in the UK and India are effected too. The banking sector is being hit too. My London based broker took a hit on Friday, but I think/hope they will be okay.
Tech and Crypto are both safe and effective investments.
1000’s of companies are affected. Mostly early stage startups that run their VC money through SVB.
It would be useful to see a comprehensive list.
As usual this WAPO is garbage.
The Compost wrote WHAT? $400m? I haven’t seen a single other source mentioned that amount. I posted an article about Roku an hour ago. It had quotes from Roku. That seemed reliable. I would ignore anything from the Compost and NY Slimes on this matter. They have zero credibility and their mission is to make the economy look great for Democrats. This story is about way more the SVB. I fear it will explode twice as worse at market open on Monday. If you want a potential preview of world-wide impact look at forex tomorrow afternoon when it reopens for the week. If banks in AUS, NZ, and JPY are really active then something is really up.
SVB: Go Woke, Go Broke.
Who the hell were the Chief Financial Officers of the customer companies turning away as banks considering they used SVB?? I mean, “Hey, were got some mentally ill homosexual transvestite with a no qualifications running the bank”, didn’t trigger anything?
What companies and banks are on the other side of Roku's $487 million in CRAs?
Thanks for clearing that up.
I need a better list. I don’t trust WaPo or click on it.
CIA clumsiness killed SVB
Hedge funds already coming in with immediate liquidity by buying deposit claims at a deep discount.
“ Hedge funds already coming in with immediate liquidity by buying deposit claims at a deep discount.”
******************************************************
GIBS-ME-DAT bailout money will result in huge PROFITS for these “investors”. POLITICAL “DONATIONS” GALORE.
The hedgies ain’t hedgies for nuttin’.
I just hope one name is on the list: “The Sussexes”
The SEC filing says
The Company’s deposits with SVB are largely uninsured. At this time, the Company does not know to what extent the Company will be able to recover its cash on deposit at SVB.
Are they misleading shareholders?
Etsy uses this bank to pay some sellers accounts.
Oprah also is at risk of losing about 500 million. So the schaudenfreude factor is kicking in a bit.
“..Tech and Crypto are both safe and effective investments....”
Why yes, yes they are. They’ve both had their vaccine shot plus the umpteenth monthly booster. So yeah, they’re definitely “safe and effective”. Nothing to see here.....LMAO.
Well that second sentence made my day. She needs to lose some of her loot before she gets her “retribution” check from San Fernasco’s “Slave Reparations Agency With Teeth.”
The hedge fund guys are very good with spreadsheets. They have probably figured out that SVB has enough assets to pay the depositors in full, although other creditors may get the short end of the stick.
Futures open at 3:00 pst Sunday afternoon. That will tell me how bad the fear factor is.
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