In the hours after some of Silicon Valley Bank’s biggest customers started pulling out their money, a WhatsApp group of startup founders who are immigrants of color ballooned to more than 1,000 members.
Questions flowed as the bank’s financial status worsened. Some desperately sought advice: Could they open an account at a larger bank without a Social Security Number? Others questioned whether they had to physically be at a bank to open an account, because they’re visiting parents overseas.
One clear theme emerged: a deep concern about the broader impact on startups led by people of color.
While Wall Street struggles to contain the banking crisis after the swift demise of SVB<!–
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