'The first Twitter-fuelled bank run': how social media compounded SVB's collapse | Sili... - 0 views
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dr tech on 16 Mar 23"The collapse of SVB was the second-largest bank failure in the history of the United States. The largest, Washington Mutual in 2008, took place over the course of eight months. SVB's collapse played out in barely two days. Anxious Twitter posts and WhatsApp exchanges, coupled with the ease of access that online banking provides, are seen by analysts as a serious catalyst for the current crisis. Experts suggest that in the social media age, the psychological behaviour behind a bank run - mass fear from depositors of losing their savings - may be amplified and go viral quicker than bank officers and regulators can successfully respond."