Silicon Valley Bank

Does anyone know if Bubble is safe from the Silicon Valley Bank crash? I was just curious if they utilized this bank.

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Great question @josh10.

This does seem like something it would be helpful for Team Bubble (@josh or @emmanuel maybe) to clear up for clients - either here or via an email to active accounts.

In particular it would be helpful to know whether (i) Bubble had any deposits at SVB that got locked up today and (ii) how that impacts (or doesn’t) Bubble’s liquidity position.

I wouldn’t think there would need for many details - especially if there’s no exposure to SVB (either directly or indirectly) - but for people who have built businesses here, transparency is always helpful so we can understand any underlying risks and plan next steps accordingly.

Admittedly a low probability, but 2008 taught us all that who your partners are exposed to matters a lot when large counterparties start failing.

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We do have some exposure to SVB, but we were able to transfer enough cash out to ensure operations aren’t disrupted. Thank you for checking!

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Thanks @josh - that’s good to know. Thanks for taking time to respond after what must have been a pretty hectic week.

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Happy to hear that. Thank you!

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