FDIC Reveals Top Depositors at Silicon Valley Bank, Including Circle and Sequoia

Stablecoin issuer Circle and venture capital firm Sequoia Capital were among the top 10 depositors at the collapsed Silicon Valley Bank (SVB) in March, according to documents from the Federal Deposit Insurance Corporation (FDIC). Circle reportedly held roughly $3.3 billion in deposits, while Sequoia had roughly $1 billion. The FDIC and Federal Reserve have worked to make both insured and uninsured depositors whole following the SVB collapse, which has put a spotlight on how regulators in the United States handle deposit insurance.