Fintech startup Brex received billions of bucks in Silicon Valley Lender deposits Thursday, resource suggests

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Fintech startup Brex been given billions of pounds in deposits from Silicon Valley Lender consumers on Thursday, CNBC has discovered.
Other organizations which includes JPMorgan Chase, Morgan Stanley and Initial Republic also observed heightened inflows Thursday, as SVB’s stock tanked amid VC-fueled fears of a lender run.
The exodus of deposits set elevated pressure on SVB, which tried to increase fairness funding previously this 7 days and experienced turned to a probable sale, CNBC reported. Regulators shut down the bank Friday.

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