RokuHolding about 26% of its cash at Silicon Valley Bank Financial, Roku, a hardware digital media company, stated that an estimated $487 million is held at SVB, representing about a quarter of the company’s cash and holdings as of Friday. The remaining $1.4 billion in cash is spread across other financial institutions. CircleCrypto firm Circle revealed in a tweet that it held $3.3 billion with SVB and the remainder of its $40 billion in cash was held elsewhere. Roblox CorporationRoblox Corporation held 5% of its $3 billion in cash or $150 million at the bank, but the video game company stated that SVB’s collapse will have no impact on its operations. SVB’s CollapseSVB’s collapse is the second-largest bank failure in U.S. history after reporting $212 billion in assets for Q4 2022.

Source: Forbes March 11, 2023 17:54 UTC