Over 90% of the money in that bank was NOT insured.
Re: 68: - why is that surprising?
~5-7% of account holders had on deposit less than $250,000. This is a bank for big boys and girls that know the risks of such an event.
Let’s not forget - SVB is a bank of startup firms. SVB loaned money to tech startups that did not have normal collateral due to the nature of tech startups. When times were good, deposits flowed in. SVB purchased lots of Mortgage Backed Securities. Then interest rates started to rise and those MBS were not such an attractive investment. They attempted to purchase other investments to counter their losses on the MBS and ran into trouble.
For shareholders of SVB, there were warning signs starting in late 2021 when looking at the stock price. Whoever shorted SVB in the last 6 months made a tidy sum.