earlier this week, the bank took a loss of $1.8 billion on the sale of bonds, fueled in part by the federal reserve s rapid interest rate increases. as fears set in, customers rushed to withdraw $42 billion in deposits. by friday morning, the bank had failed. the market did not respond like they thought, and the ramifications were that they ran were run out of money. reporter: for companies that had money at svb, monday the fdic will provide insured depositors up to $250,000. anything after that, unfortunately, you will have to wait. reporter: some companies now scrambling for access to cash. new york-based toy store camp issues this email to its customers begging for help, saying, we had most of our company s cash assets at a bank which just collapsed an offering of 40% discount for those using the promo code bankrun. new reporting tonight about internal payments at silicon valley bank.
MicroStrategy® Incorporated , the largest independent publicly-traded business intelligence company, today announced financial results for the three-month period ended December 31, 2022. | February 2, 2023
the billion dollars crypto collapse the new management found more than 1.2 billion in the company s cash assets. so here to react is tech policy center director at heritage foundation former dod counter-terrorism analyst kara frederick. great to see you this morning. great to see you too, will. the bond, the found assets, can i put faith these are actual numbers that, no, you are already shaking your head no. no, not at all. this is not real money. the $250 million bond. that was never paid out. he never paid. it wasn t actual bail. so his parents put up their $4 million house as collateral there was a couple other guarantors as well. but, no money has exchanged hands yet. but sbf is back in his parent s basement probably where he should have belonged in the first place. will: promising that some assets seemed to have been discovered. new leadership is trying to win back get back some of the donations that sbf donated to a lot of these political action