Peter Thiel's Founders Fund got its cash out of Silicon Valley Bank before it was shut down, report says
Peter Thiel's Founders Fund had no cash left in Silicon Valley Bank by Thursday as it began to unravel, Bloomberg reported.the PayPal cofounder's fund had moved to close its exposure to the failing bank after running into problems using SVB's services.
Following the withdrawals, the fund no longer had any exposure to SVB as of Thursday morning, the unnamed source told Bloomberg. It wasn't clear whether the transfers happened on that day, or earlier.
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