US-based Silicon Valley Bank failed: Here's why it's not 2008 again

The bank bought billions of dollars worth of bonds over the past couple of years, using customers' deposits as a typical bank would normally operate

The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems in banking — a bank run — which led to its failure on Friday.
 

Its downfall is the largest failure of a financial institution since Washington Mutual collapsed at the height of the financial crisis more than a decade ago. And it had immediate effects. Some startups that had ties to the bank scrambled to pay their workers, and feared they might have to pause projects or lay off or furlough employees until they could