The Fintech Files

The Fintech Files: Founders cut reliance on Silicon Valley Bank, Philip Hammond’s crypto firm cuts jobs

Fintech Files rounds up what's going on in fintech and crypto this week

The potential of SVB UK collapsing raised fears for the broader tech industry — about 3,300 of Britain’s startups were SVB UK clients
The potential of SVB UK collapsing raised fears for the broader tech industry — about 3,300 of Britain’s startups were SVB UK clients Photo: Noah Berger/ Images

It’s been another eventful week in fintech – not least for the thousands of startup founders whose cash was tied up in Silicon Valley Bank.

The lender's UK arm might be safe after it was rescued from insolvency by HSBC on 13 March, but founders tell Financial News they are planning to lower their exposure to the firm nonetheless. 

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