The Silicon Valley Bank (SVB) has made headlines in recent days as it faced a financial collapse in early March 2023, prompting calls for a bailout. Despite regulators denying a financial rescue, the US government has announced that depositors will be able to access their funds. Meanwhile, HSBC has stepped forward to acquire the UK division of the bank in a bid to save it. As a result, SVB has been a hot topic of discussion among Twitter influencers over the past week, reveals GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Social Media Analytics Platform reveals that SVB has emerged as the most trending company in the last seven days, with more than 1,800 influencers discussing about the company’s fallout.
Smitarani Tripathy, Social Media Analyst at GlobalData, comments: “Influencer sentiments were mostly positive on the US government’s intervention to stem the fallout of the bank, which assured the depositors. They also see this move as a sigh of relief for the US banking and financial system. Meanwhile, a few influencers slammed the government as they dropped out from the bailout of the bank.”
Below are a few popular influencer opinions captured by GlobalData’s Social Media Analytics Platform:
Ajay Bagga, Chairman, Elyments Platforms
“Combined statement from US Treasury, Federal Reserve and FDIC reassures all bank depositors, including those of failed Silicon Valley Bank and Signature Bank that they are fully protected. New lending measures for banks announced. Good move, positive for markets.”
Patrick Henningsen Assistant Vice President at W. R. Berkley Corporation
“ Biden Admin just announced Uncle Sam will cover ALL depositors at failed Silicon Valley Bank! Depositors will have access to their cash on Monday morning. Unbelievable intervention, unprecedented. Same goes for Signature Bank NYC, which Feds shutdown today also.
Bobby Goodlatte, Managing Partner at Form Capital
“It’s a backstop, not a bailout SVB equity holders are zeroed out, the bankers lose their jobs, but depositors are protected So yes, VCs should thank the fed for protecting depositors. And many are. But you should also be thanking the fed. Your bank could’ve been next”
Nate Silver, Founder of FiveThirtyEight
“The White House is kind of in a no-win position on Silicon Valley Bank—a bailout would be unpopular, but a negative economic shock would also harm Biden’s reelection—and it seems likely to further chill the relationship between the Democratic Party and the tech sector.”
Aditya Shah, Chief Investment Officer at JST Investments
“So what is the move? This bailout is taken to protect Financial Stability in the US Banking System:- Depositors will have access to all of their money starting Monday, March 13 Shareholders and certain unsecured debtholders will not be protected.”