Control of Silicon Valley Bank up for auction as federal officials weigh protecting uninsured deposits after collapse

• An auction of Silicon Valley Bank is underway as feds rush to save the collapsed financial institution. 
• Officials told the Washington Post the government is considering protecting all uninsured depositors. 
• Bids are expected to continue until Sunday afternoon. 

An auction for control of the failed Silicon Valley Bank is now underway and federal officials are seeking ways to protect all deposits, according to the Washington Post.