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- Silicon Valley Bank's collapse has left hundreds of startups facing a cash crunch and payroll crisis.
- A popular toy store held a 40% off sale to raise funds.
- Their best hope for paying staff is a buyer being found for SVB before markets open on Monday.
Hundreds of startups face a massive cash crunch if the search for a buyer for Silicon Valley Bank drags into next week.
The Federal Deposit Insurance Corporation (FDIC) took control of SVB Friday after it was shut down by California regulators when a failed $2.3 billion capital raise sent its stock crashing.
It leaves hundreds of startups that deposited their cash with the bank in turmoil, as they try to continue operating while millions in funds are locked up.