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1 year ago

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SVB's collapse was fueled by 'people on iPhones' and won't spread across the US banking sector, Blackstone CEO says

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SVB's collapse was fueled by 'people on iPhones' and won't spread across the US banking sector, Blackstone CEO says

Rapid withdrawals "by people on iPhones" and high interest rates caused Silicon Valley Bank to collapse, Blackstone boss Steve Schwarzman said.

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SVB's collapse was fueled by 'people on iPhones' and won't spread across the US banking sector, Blackstone CEO says

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SVB's collapse was fueled by 'people on iPhones' and won't spread across the US banking sector, Blackstone CEO says

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