Reports have emerged that the CEO of Silicon Valley Bank, which provides financial services to startups, has sold $3.57 million worth of SIVB stock in the past two weeks. This news comes despite calls for calm from the company amidst concerns over the economic impact of the coronavirus outbreak.

Sources have raised concerns that the selling of stock by the CEO could indicate deeper concerns within the company, despite public statements to the contrary. The situation has also been deemed critical by Y Combinator CEO, who has said that the collapse is impacting 1000 startup businesses, with one-third of them unable to make payroll in the next 30 days.