- Hedge funds and banks are offering to buy deposits held by startups at failed Silicon Valley Bank at steep discounts.
- Oaktree and Jefferies are reportedly among the firms offering bids ranging from 60 cents to 80 cents on the dollar.
- The US Federal Deposit Insurance Corp. only insures deposits up to $250,000, leaving 93% of SVB’s domestic deposits uninsured.
Hedge Funds, Banks Offer to Buy Deposits as SVB Fails: Reports
Hedge funds and banks are swooping in to try and pick up deposits held by startups at failed Silicon Valley Bank at steep discounts, according to reports.
Susanne Barton
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