Some Silicon Valley Bank customers are selling their deposits at big discounts to raise cash quickly, reports say

• Some SVB clients are being invited to sell their uninsured deposits at steep discounts, reports say.
• Some were being quoted as little as 55 cents on the dollar for their frozen deposits, per the FT.
• At least one Wall Street firm has pounced on distressed startups in a bargain hunt, per The Information.

Some Silicon Valley Bank customers are selling their deposits at big discounts in an attempt to raise cash quickly, reports say.