Almost all Chinese technology innovation companies that have received US dollar fund investment before the B round will first open an account with Silicon Valley Bank

According to 36 Krypton’s investment report account “Undercurrent Waves”, among the nearly ten startups interviewed, almost all Chinese technology startups that have received US dollar fund investment before the B round will first choose to open an account with Silicon Valley Bank. This time Silicon Valley Bank collapsed, and many companies deposited hundreds of thousands or even millions of dollars in the bank. Undercurrent Waves found after many investigations that during the daytime on March 10, most founders could not open the Silicon Valley Bank website, and could only wait after submitting a withdrawal application. The FDIC insures up to $250,000 per depositor per bank, Waves said. This means that the part within 250,000 US dollars should be able to be withdrawn normally starting from March 13, but it is not yet known how to deal with the excess part.