SVB, short for Silicon Valley bank, created shockwaves in the markets last week. The bank sold its $21b bond portfolio at a loss. Depositors responded by removing assets from the bank en-masse, initiating a classic bank run as rumors of the bank’s insolvency spread over social media. Popular gaming platform, Roblox, announced they were unsuccessful in withdrawing $150m of company funds before the bank collapsed.

Roblox holds $150m of capital with SVB. On Friday, Roblox announced, “Of Roblox Corporation’s $3 billion of cash and securities balance as of February 28, 2023, approximately 5% is held at Silicon Valley Bank. Thus, regardless of the ultimate outcome and the timing, this situation will have no impact on the day to day operations of the Company.”

Good news for the gaming giant and metaverse builder. Roblox shares are up 10% from Friday morning, clearly demonstrating the lack of concern about the company’s financial wellbeing moving forward.Thanks to the government intervention to protect depositor accounts, Roblox will be able to recover all $150m of its company funds held with SVB.