Senior

A climate tech CEO took calls from an airplane bathroom to try and save his company when his bank collapsed

Erin Hooley/Chicago Tribune
Donnel Baird, founder and CEO of BlocPower, banked with SVB and First Republic.
He scrambled to confirm wire transfers during a flight from Paris to New York.
Climate-tech companies hope more investors step in to fill SVB's void.
This article is part of Insider's weekly newsletter on sustainability, written by Catherine Boudreau, senior sustainability reporter. Sign up here. It was the worst time for Donnel Baird to be on a transatlantic flight with spotty WiFi. A listserv for tech CEOs had blown up overnight with hundreds of panicked emails about Silicon Valley...
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Cathie Wood blames the Fed for driving SVB and Signature Bank to collapse

10 days ago | By Business Insider

Cathie Wood speaks on a panel at Miami's Bitcoin 2022 conference. Rebecca Blackwell/AP Photo
Cathie Wood said the central bank's tightening campaign was fuel for the banking crisis.
In a series of tweets, she described the Fed as the "primary culprit" for SVB's failure.
"I am baffled that banks and regulators could not convince the Fed that disaster loomed."
Cathie Wood pointed to the Federal Reserve's monetary tightening campaign as fuel for the collapses of Silicon Valley Bank and Signature Bank. The famed money manager cited the US central bank's aggressive approach to raising interest...
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Peter Thiel said he had $50 million in a personal account at Silicon Valley Bank when it collapsed, despite telling his portfolio companies to pull their money

10 days ago | By Business Insider

Founders Fund partner Peter Thiel. Chip Somodevilla/Getty Images
Peter Thiel told the Financial Times that he had $50 million of his own money in SVB when it collapsed.
Some have blamed Thiel for helping trigger the run on SVB after he told Founders Fund companies to pull deposits.
On Sunday, the US government announced that all depositors of SVB would be able to access their money.
Despite advising clients to pull their cash from Silicon Valley Bank last week, billionaire tech mogul Peter Thiel said he had a large sum of his own money tied up in the doomed bank when it collapsed on...
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