Though generally unheard of, it is the bank that tech and medical science companies use in the US but even more especially in the UK.
Its customers include most of the big names in the UK and all of its customers have now been locked out of their account.
Jellen confirmed that the US will not bail out the bank leaving all its depositors at risk of losing everything.
In the UK, the government is trying to churn out a deal for the bank to be acquired by the systemic British banks in an attempt to save depositors and ensure their financial viability.
As of Friday, several tech and medical companies are unable to pay their debts, rent, employees and general liabilities.
This is an issue of major concern that will send ripple shocks across entire ecosystems.
I personally advise people to move their cash across several bank accounts to keep their monies below the covered threshold(85k) in the UK.
...take your common sense with you, and leave your prejudices behind...