FinTech and Bank runs

explored by Pymnts, who discusses yesterday’s collapse of Silicon Valley Bank. About a two minute read.

Comment: if what we’re reading on FinTwit is any indication many firms are exposed and may lose significant funds. Roku, for example, kept 26% of cash at this bank. Rumours presently that many Fintechs will have to layoff staff, as early as Monday, because they can’t make payroll. Messy.