US regulators have shut down Silicon Valley Bank and taken control of its customer deposits in the largest failure of a US bank since 2008.
The moves came as the firm, a key tech lender, was scrambling to raise money to plug a loss from the sale of assets affected by higher interest rates.
Its troubles prompted customers to rush to withdraw deposits and sparked fears about the wider banking sector.
Officials said they shut the bank to protect insured depositors.
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