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'Too soon to tell' of ramifications for Pittsburgh's startup scene following closure of Silicon Valley Bank

By: Pittsburgh Business Times via Business Journals

March 10, 2023 at 18:05 PM EST

According to a report in Bloomberg, the Santa Clara, California-based institution experienced a bank run on Thursday after disclosing a $1.8 billion loss following a $21 billion fire sale of its fixed-income portfolio.

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'Too soon to tell' of ramifications for Pittsburgh's startup scene following closure of Silicon Valley Bank