Date uploaded: 2023-03-14 16:59:35

The Justice Department has opened an investigation into the collapse of Silicon Valley Bank, the New York Times reports. Experts said a possible focus of the investigation could be insider sales by several bank executives in the weeks before the bank’s failure. The bank failed after depositors – mostly technology workers and venture capital-backed companies – began withdrawing their money as anxiety about its situation spread. Its collapse has created a ripple effect across the American financial industry. Still wondering how we got here? Swipe ➡️ to catch up quick. Head to the link in bio for the latest.