“ but even large depositors will likely be made whole by the FDIC and the Fed…”
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Maybe… but the FDIC insurance cap is $250,000 per depositor per account.
So it depends upon how deposits at the bank are “structured”. It’s individual depositors without financial savvy who could get burned.
The FDIC insurance cap is almost always waived for individual depositors. As a matter of policy, my guess is that it will also be waived for corporate depositors in this instance because of the economic and political importance of venture capital.