Workers Are Auctioning Off Their SVB Merch on eBay

How dangerous are issues at Silicon Valley Financial institution? Ex-employees are auctioning firm merchandise on eBay to make a fast buck.

Some SVB objects embrace a tattered blue cardboard field with the letters “SVB” emblazoned on it. Asking worth: $201.

“Field obtained after getting provide letter one month earlier than the financial institution blew up. Have to pay hire this month, please,” writes the vendor, elonmusk.

If a used turquoise cardboard field from a failed financial institution is not in your want listing, consumers can buy a stainless-steel SVP wine tumbler for $59.

Need the 2 tumblers and bottle set? That may price you $188.50.

“Given to SVB staff in 2021. An genuine piece of SVB historical past,” says the vendor.

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SVB swag hearth sale

The financial institution collapsed final Friday after a $42 billion financial institution run, inflicting the Federal authorities to take management of SVP over the weekend.

Now some former staff hope there is a run on SVP-branded swag.

One particular person claiming to have labored in SVB’s analytics division was promoting a used espresso mug, with the message: “Shopping for this mug helps me out but in addition will get you a bit of historical past to one of many quickest banking failures in US historical past. This mug was used on the day-to-day and reveals indicators of damage.”

Not all of the SVB objects are genuine. Some opportunists are cashing in on the tragedy. A vendor named Staceys_68 is promoting a Silicon Valley Financial institution SVB 2023 Shirt FDIC 250k.

Others are promoting gear supposedly from the Silicon Valley Financial institution Threat Administration Division.

However beware, the vendor warns: “Due to excessive season, there are some colours runs out of inventory, we are going to contact you if that colour is out-stock.”

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