What to know about the Silicon Valley Bank collapse, takeover and fallout

Silicon Valley Bank, which catered to many of the world's most powerful tech investors, collapsed on Friday and was taken over by federal regulators, becoming the largest U.S. bank to fail since the 2008 global financial crisis.

Then, on Sunday, regulators grew concerned about the financial health of New York's Signature Bank, largely because of its big exposure to the volatile crypto market.

Now, both banks are both under the control of the Federal Deposit Insurance Corporation, or the FDIC.

Regulators announced the takeovers after what was effectively a run on Silicon Valley Bank late last week when depositors rushed to withdraw tens of billions of dollars worth of deposits.

The collapse has sent shockwaves across the financial industry. Shares of small, regional lenders have been hammered; the bond market has swung wildly; and now, the pressure is