{"id":26647,"date":"2023-06-23T16:20:27","date_gmt":"2023-06-23T20:20:27","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/fdic-backstopped-sequoia-and-other-bigger-companies-when-it-covered-uninsured-deposits-at-silicon-valley-bank-bloomberg-report\/"},"modified":"2023-06-23T16:20:27","modified_gmt":"2023-06-23T20:20:27","slug":"fdic-backstopped-sequoia-and-other-bigger-companies-when-it-covered-uninsured-deposits-at-silicon-valley-bank-bloomberg-report","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=26647","title":{"rendered":"FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report"},"content":{"rendered":"
\n

The Federal Deposit Insurance Co.\u2019s guarantee of uninsured deposits at Silicon Valley Bank benefitted not only thousands of small tech startups, but it also provided a backstop for larger players such as venture capital firm Sequoia Capital, according to a report by Bloomberg on Friday. When the FDIC moved to guarantee accounts above the $250,000 federal deposit insurance threshold in its March takeover of Silicon Valley Bank, it also covered $1 billion of uninsured deposits held by Sequoia and more than $900 million from Kanzhun Ltd., a technology company that owns the\u00a0China-based job-posting app Boss Zhipin, the report said. The report said the FDIC told them it released an unredacted list of depositors by mistake and asked Bloomberg to destroy it and not share it. The FDIC released the document to Bloomberg following a Freedom of Information Act request from the news organization. The FDIC did not comment on the list after a lawyer for the government said it had intended to withhold details of the document due to the confidential commercial and financial information contained in it. A Sequoia spokesperson did not comment, Bloomberg reported.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Federal Deposit Insurance Co.\u2019s guarantee of uninsured deposits at Silicon Valley Bank benefitted not only thousands of small tech startups, but it also provided a backstop for larger players such as venture capital firm Sequoia Capital, according to a report by Bloomberg on Friday. When the FDIC moved to guarantee accounts above the $250,000 […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-26647","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nFDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The Federal Deposit Insurance Co.\u2019s guarantee of uninsured deposits at Silicon Valley Bank benefitted not only thousands of small tech startups, but it\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=26647\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"The Federal Deposit Insurance Co.\u2019s guarantee of uninsured deposits at Silicon Valley Bank benefitted not only thousands of small tech startups, but it\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=26647\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-23T20:20:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/MW-GP644_MicroS_ZG_20180906154215.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1320\" \/>\n\t<meta property=\"og:image:height\" content=\"742\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=26647#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=26647\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report\",\"datePublished\":\"2023-06-23T20:20:27+00:00\",\"dateModified\":\"2023-06-23T20:20:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=26647\"},\"wordCount\":208,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=26647#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=26647\",\"url\":\"https:\/\/ifintechworld.com\/?p=26647\",\"name\":\"FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-23T20:20:27+00:00\",\"dateModified\":\"2023-06-23T20:20:27+00:00\",\"description\":\"The Federal Deposit Insurance Co.\u2019s guarantee of uninsured deposits at Silicon Valley Bank benefitted not only thousands of small tech startups, but it\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=26647#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=26647\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=26647#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report | iFintechWorld","description":"The Federal Deposit Insurance Co.\u2019s guarantee of uninsured deposits at Silicon Valley Bank benefitted not only thousands of small tech startups, but it","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=26647","og_locale":"en_US","og_type":"article","og_title":"FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report | iFintechWorld","og_description":"The Federal Deposit Insurance Co.\u2019s guarantee of uninsured deposits at Silicon Valley Bank benefitted not only thousands of small tech startups, but it","og_url":"https:\/\/ifintechworld.com\/?p=26647","og_site_name":"iFintechWorld","article_published_time":"2023-06-23T20:20:27+00:00","og_image":[{"width":1320,"height":742,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/MW-GP644_MicroS_ZG_20180906154215.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=26647#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=26647"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report","datePublished":"2023-06-23T20:20:27+00:00","dateModified":"2023-06-23T20:20:27+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=26647"},"wordCount":208,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=26647#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=26647","url":"https:\/\/ifintechworld.com\/?p=26647","name":"FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-23T20:20:27+00:00","dateModified":"2023-06-23T20:20:27+00:00","description":"The Federal Deposit Insurance Co.\u2019s guarantee of uninsured deposits at Silicon Valley Bank benefitted not only thousands of small tech startups, but it","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=26647#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=26647"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=26647#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/26647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26647"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/26647\/revisions"}],"predecessor-version":[{"id":26648,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/26647\/revisions\/26648"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/1383"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}