This headline is part of the bank run they are currently experiencing.

I think that very soon they will halt withdraws. Everyone I know already did it or is doing today. Many only had a SVB account, and need some time to open another account to transfer it. (International Startups)

I don't have any experience, but wouldn't they be extra screwed if the bank goes down?

They'll probably be in line with anybody else and being foreign makes enforcement and lawsuits so much more expensive and difficult.

I guess that's a price they were willing to pay to get more favorable conditions in SV in the past as opposed to whatever they could find locally.

Literally transfer the money anywhere at this point.

You literally cannot just transfer the money anywhere if it's money meant for a business. In many countries, just transferring that money to your personal account would be illegal. And many banks won't allow you to open a business account and directly after transfer millions of funds to it, without a long process of due diligence (AML/KYC). There is also a bunch of anti-terrorism (funding) laws that might prevent things from being done in just hours, especially during the weekend as many (most?) banks are outright closed during the weekend.

Not true for the US re: moving money to your personal account being automatically illegal.

The context is "International Startups" so I'm assuming that means Non-US startups.

If you aren’t transferring out you are an idiot at this point. Even if you don’t lose money you will loose access during the failure.

My guess is the feds come in today and do it. They love to close banks on a Friday and work it through the weekend

They’re having one. This sale is almost certainly partially brokered by the FDIC, like Silvergate was, some big bank that can handle the outflows will probably acquire them