Warren and AOC demand transparency from Silicon Valley Bank's top depositors.

1 min read
Source: CNBC
Warren and AOC demand transparency from Silicon Valley Bank's top depositors.
Photo: CNBC
TL;DR

Senators Elizabeth Warren and Alexandria Ocasio-Cortez have written to Silicon Valley Bank's largest depositors, including Roblox CEO David Baszucki, BlockFi CEO Zac Prince, and Roku CEO Anthony Wood, asking for details on any "cozy" relationship they may have had with the bank. The lawmakers are seeking information on any special treatment the depositors received, including lower interest mortgage rates, generous lines of credit, and sponsored ski trips, conferences, and fancy dinners. Over 95% of the bank's deposits were uninsured as of December, which threatened companies' ability to make payroll after the bank failed.

Share this article

Want the full story? Read the original reporting

Read on CNBC