CNN
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The sudden collapse of a top Silicon Valley lender has pushed tech investors and startups to scramble to figure out their financial exposure and the impact on their ability to operate, at a time when many businesses were already on edge from widespread layoffs and less access to capital in an uncertain economy.
California regulators closed down Silicon Valley Bank on Friday and put it under control of the US Federal Deposit Insurance Corporation. The FDIC is acting as a receiver, which typically means it will liquidate the bank’s assets to pay back its customers, including depositors and creditors.
The move capped off a stunning 48 hours during…
