[JumpCrisscross]

> SVB does a lot of venture debt

These losses aren’t related to SVB’s debt portfolio. It’s due to their deposits being flighty.

SVB banks start-ups. Start-ups are spending cash faster than they’re getting it from VCs or customers. That leaves SVB with fewer deposits with which to fund their assets, so they must fire sell assets, which isn’t fun to do.

[resters]

Doesn't SVB require a startup to keep a certain amount of cash reserves deposited in order to be eligible for things like merchant accounts and other "free" financial services?