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Many startups had their accounts with SVB, and the bank's failure meant they faced immediate practical challenges in accessing their funds.

Silicon Valley Bank (SVB) was a commercial bank based in Santa Clara, California. It was one of the largest banks in the United States and a significant player in the technology and startup sectors. SVB provided a range of financial services, including cash management, foreign exchange, and loan services, specifically tailored to the needs of technology, life science, and clean energy companies. site%3apastiebin.com+silicon+valley+bank