11.03.2023 01:09 Uhr, Quelle: Engadget

Roku says it could lose 25 percent of its cash after Silicon Valley Bank fails

The sudden collapse of Silicon Valley Bank has put more than a quarter of Roku’s cash at risk. The streaming company had nearly $500 million, representing 26 percent of its cash, in Silicon Valley Bank, the company disclosed in an SEC filing Friday.The future of those funds is now uncertain as federal regulators have taken over the financial institution amid the second-largest bank collapse in United States history. “The Company’s deposits with SVB are largely uninsured,” Roku wrote in its filing. “At this time, the Company does not know to what extent the Company will be able to recover its cash on deposit at SVB.”In a statement on Friday, the Federal Deposit Insurance Corporation (FDIC) said that it will pay “uninsured depositors an advance dividend within the next week” and that “uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds.” But there’s still a lot of uncertainty about how lo

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