Building managers at Silicon Valley Bank’s Manhattan branch reportedly called the police Friday morning after a group of tech founders showed up and attempted to pull out their cash.
Police responded after a group of “about a dozen founders” went to SVB’s Manhattan location on Park Avenue, journalist Eric Newcomer said in a Substack post. One of the founders was former Lyft executive Dor Levi, who provided Newcomer with text updates from the scene.
The incident was the latest indication of growing panic among investors linked to the tech lender, which warned of a cash crunch this week that sparked a run on the bank.
SVB blocked Levi and others who gathered from entering the building. By around 9:20 a.m. ET, building officials “called the police” and a pair of NYPD vehicles had arrived.
Levi “said the police were very friendly and instructed one person who didn’t want to leave SVB’s offices that they had to exit the building,” Newcomer wrote.
AP
Kevin C. Downs for NY Post
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