The Federal Deposit Insurance coverage Company (FDIC) has launched an unredacted doc that exhibits the federal government assured the deposits of Silicon Valley Financial institution’s (SVB) ten largest clients following its high-profile collapse in March.
The FDIC “mistakenly” launched the whole model of the doc following a Freedom of Data Act request from Bloomberg.
The doc reveals the names of the companies that have been bailed out, together with their whole deposits that immensely exceed the $250,000 FDIC safety restrict per account.
Stablecoin issuer Circle was SVB’s prime depositor to the tune of $3.3 billion. In March, the Boston-based agency stated $3.3 billion of the $40 billion backing its stablecoin USD Coin (USDC) was initially caught within the bankrupt financial institution.
Enterprise capital big Sequoia, a agency with $85 billion in property beneath administration, was additionally on the checklist with $1.1 billion in deposits.
In whole, Silicon Valley Financial institution and its dad or mum agency Silicon Valley Group have been handed $4.6 billion.
Subsequent up is Kanzhun Restricted, an internet recruitment providers agency, which had over $902.87 million in deposits with SVB.
Coming in at quantity six is the California-based fintech agency Invoice.com. The funds platform had a complete stability of $761.10 million at SVB.
At quantity seven is Altos Labs, a biotech analysis firm that had over $680.34 million saved with SVB.
Card issuing platform Marqeta can be on the checklist with greater than $634.53 million in deposits.
Streaming machine supplier Roku had about $420 million in deposits with SVB.
Rounding out the checklist is IntraFi, a agency that provides FDIC-insured deposit options to giant entities. In accordance with the doc, IntraFi had a complete stability of $410.85 million at SVB.
All in all, the US authorities backstopped SVB’s 10 wealthiest depositors for over $12.75 billion.
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