The biggest bank failure since the financial crisis more than 15 years ago has hitstreaminggiantRoku.
It ranks as the second-largest bank failure in U.S. history after Washington Mutual in 2008.
Uninsured depositors, meanwhile, will receive an advance dividend over the next week.
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As the FDIC sells the assets of SVB, future dividend payments may be made to uninsured depositors.
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About $1.4 billion of the companys cash is spread across multiple large financial institutions.
The SVB crisis comes as Roku is already navigating a transition at the top of its finance exec ladder.
But FDIC insurance is capped at $250,000 per account holder, putting larger customers at greater risk.
FuboTV is an exception in the entertainment sector.
The company put out an SEC filing noting it had no funds at the bank.
We must confirm all deposits exceeding the FDIC $250k limit are honored, he tweeted.
Banking is about confidence.
If depositors lose confidence on the safety of their deposits over 250k then we are in trouble.
Jill Goldsmith contributed to this report.
