And somewhere on a hard drive, svb_bloodbait.txt remains the perfect tombstone for the first bank killed by a group chat.
By 6:00 AM on March 9, CEO Greg Becker was on a call. He told investors, "We have ample liquidity. Don't panic." site%3apastebin.com+silicon+valley+bank
At 9:15 AM, he logged off.
The Group Chat That Broke the Bank
By 10:00 AM, the FDIC arrived to seize the bank. The Pastebin post ends with a single line of code from a terminated engineer: system.out.println("Game over. SVB has $0.00 left."); And somewhere on a hard drive, svb_bloodbait
Reply: "He is on a private jet to the Napa Valley office. He is not taking calls." Don't panic
This is where the Pastebin story gets juicy. According to the leaked chat logs, a junior associate at (a major VC) read the SEC filing. He saw the $1.8 billion loss. He didn't read the fine print about the back-up capital raise.