Didn't UK say they were going to extend help beyond the £85k limit for SVB's UK subsidiary?

To be fair, SVB is an important lessons banks and just how social media can cause major problems if the narrative is not controlled.

They obviously paid no attention to CZ and FTX, how in the space of 2 days, SBF went from Sam BankMan Fried to Sam BankMan Fraud.

SVB wasn't in bad shape, there aren't many institutions right now that do not unrealised losses if taken marked to market (I'd hate to look at insurers right now). But now with the ability to move deposits almost instantaneously a situation can get out of hand real quickly if left unabated.

The bank has more than enough assets to cover depositors if all assets were liquidated today. Just a shame, it has played out like this as it puts business operations at risk.