Report: Circle and Sequoia are among the top ten depositors of Silicon Valley Bank

ChainCatcher news, documents provided by the Federal Deposit Insurance Corporation (FDIC) show that companies such as Circle and Sequoia Capital are among the top ten depositors of the now-bankrupt Silicon Valley Bank, with Circle holding approximately $3.3 billion in deposits and Sequoia Capital holding about $1 billion. Other major depositors include Silicon Valley Bank itself, SVB Financial Group, biotechnology research company Altos Labs, and Chinese recruitment platform Kanjun Limited.

It has been reported that these companies have received billions of dollars in deposit insurance. Following the collapse of Silicon Valley Bank, the Federal Reserve announced a partnership with the FDIC to protect the interests of both insured and uninsured depositors. (Bloomberg)