That’s approximately 26% of the company’s cash and cash equivalents, Roku said, adding that most of its deposits with the bank are uninsured. FDIC said it will pay uninsured depositors an advanced dividend within the next week, and they will get a receivership certificate for the rest of their uninsured funds. “As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors,” the FDIC said. Other companies face falloutRoblox also said in a filing that 5% of its $3 billion in cash was held at SVB. That means more than 90% of the company’s deposits were held in SVB.

Source: CNN March 11, 2023 20:04 UTC