CHATTER AWAY: Overnight Open Thread

Deadline Hollywood reports:

The biggest bank failure since the financial crisis more than 15 years ago has hit streaming giant Roku. In an SEC filing Friday, the company disclosed that 26% of its cash was held at Silicon Valley Bank, and the funds were “largely uninsured.”

The 16th largest bank in the U.S., with more than $200 billion in assets, SVB collapsed earlier in the day and was taken over by the Federal Deposit Insurance Corp. It ranks as the second-largest bank failure in U.S. history after Washington Mutual in 2008.

Read the full article.

In an SEC filing, Roku disclosed that 26% of its cash was held at Silicon Valley Bank, most of it uninsured. The 16th largest bank in the U.S. collapsed Friday and was taken over by the Federal Deposit Insurance Corp https://t.co/ypSnOpArq6

— Deadline Hollywood (@DEADLINE) March 10, 2023

As a result of #SVB‘s implosion on Friday, companies have started releasing filing information, sending out calls for help, and putting holds on their company’s payroll systems. Businesses like Roku, Vox Media, and Etsy are among them. #SiliconValleyBank https://t.co/jqFRGRHmTR

— Brian Pia (@brianpia) March 11, 2023

Roku had $487 million in cash at Silicon Valley Bank and said it’s unsure how much of that it will recover after SVB’s collapse https://t.co/40elqRBCnC

— Variety (@Variety) March 11, 2023