other material
confidence high
sentiment positive
materiality 0.50
Payoneer confirms less than $20M of $6.4B cash held at SVB
Payoneer Global Inc.
- Total cash balances were approximately $6.4 billion as of December 31, 2022.
- Less than $20 million is held at Silicon Valley Bank via cash deposits and money market funds managed by a third party.
- Majority of cash is held across more than 10 global systemically important banks.
- FDIC took control of SVB on March 10, 2023 due to liquidity concerns.