How bad is Silicon Valley Bank? Ex-employees auction off company goods on eBay to make a quick buck.
Some SVB items come with a tattered blue box emblazoned with the letters ‘SVB’. Asking Price: $201.
“Received the box after receiving an offer letter a month before the bank blew up. Please pay rent this month,” the seller writes to elonmusk.
If a used turquoise box from a failed bank isn’t on your wish list, shoppers can pick up a $59 stainless steel SVP wine tumbler.
Do you want the two mugs and the bottle set? That will cost you $188.50.
“Given to SVB employees in 2021. An authentic piece of SVB history,” says the seller.
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SVB Swag Fire Sale
The bank collapsed last Friday after a $42 billion bank run, which led to the federal government taking control of the SVP over the weekend.
Now some former employees are hoping for a run on the SVP branded goods.
A person who claimed to have worked in SVB’s analytics department sold a used coffee mug with the message: “Buying this mug will help me, but also bring you a piece of history on one of the fastest bank failures in US history.” This cup was in daily use and shows signs of wear.”
Not all SVB items are authentic. Some opportunists are profiting from the tragedy. A vendor named Staceys_68 is selling a Silicon Valley Bank SVB 2023 shirt FDIC 250k.
Others are selling devices said to be from Silicon Valley Bank’s risk management department.
But beware, the seller warns: “Due to peak season, some colors are sold out. We will contact you if this color is out of stock.”