Blend reports massive losses as cost-cutting continues
The technology provider is in the midst of a large reduction in spending including the dismissal of approximately 340 employees.
Source: nationalmortgagenews.com
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Stripe Raises New Funding That Values It at $50 Billion
The payments processing start-up was valued at $95 billion in 2021, but private company dealmaking has been hurt by souring global economic conditions.
Source: nytimes.com
Silicon Valley's 'bridge bank' resumes mortgage originations
Silicon Valley Bank has resumed mortgage originations via its "bridge bank" — just four days after regulators took possession.
Source: housingwire.com
Silicon Valley Bank Takeover Details
Silicon Valley Bridge Bank is being managed by Tim Mayopoulos, former Fannie Mae CEO. Silicon Valley Bridge Bank has created restructuring committee with former SVB board members to find buyer for SVB, SVB Capital, SVB Securities, SVB’s other assets, investments.
Source: natlawreview.com
SVB: Here's a timeline of the bank's failure
Here's a timeline of the stories TechCrunch has written about the Silicon Valley Bank crash so far, to be updated daily as the story develops.
Source: techcrunch.com