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Collapse of Silicon Valley Bank is felt by the space sector

The collapse of Silicon Valley Bank (SVB), an institution involved in investment, loans and traditional banking services for many technology companies, could have ripple effects across the space industry.

The California Department of Financial Protection and Innovation announced the closure of SVB on Friday (March 10), also revealing that the U.S. Federal Deposit Insurance Corporation (FDIC) was appointed as the receiver for the bank.

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