SVB collapse: Peter Thiel's role scrutinized as spark of bank run

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Tech mogul and Republican campaign donor Peter Thiel is being accused of sparking the run on the bank that forced regulators to close down Silicon Valley Bank.

Journalists and critics have turned their focus on Thiel in the wake of SVB's collapse, accusing him of influencing businesses to withdraw their funding from the bank. His efforts are thought to be the first that eventually sparked the bank run, leading to California regulators intervening.

"To be clear, SVB did not properly hedge its risks against two threats, 1) concentration of influence by Peter Thiel, 2) rising interest rates," tweeted investigative journalist Dave Troy.

"That was mismanagement, but it still wasn't fraud, and they still have sufficient assets to meet nearly all of the bank's obligations."

At: https://www.washingtonexaminer.com/news/business/svb-collapse-peter-thiel-silicon-valley-

Soft coup?

On Thursday night, Founders Fund - the venture capital fund co-founded by Peter Thiel - advised companies to pull money from the now-insolvent Silicon Valley Bank.