The tweet and the trust collapse: how banks can fall on a dime

In March’s market contagion, experts see lessons in the rapid erosion of confidence

As trust collapses, so can banks. And quickly. The speed at which information and opinion are shared allows fortunes to turn on the proverbial dime.

The demise of Silicon Valley Bank started with a tweet from Raging Capital Ventures. And one from financial writer Byrne Hobart. A historically bad March 8 press release triggered more tweets – and the fastest bank run in history. 

On March 9, customers withdrew $42 billion from SVB – $4.2 billion an hour – over a million dollars a second.


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