$201 cardboard box among Silicon Valley Bank-branded items for sale on eBay
(NEXSTAR) – From coffee mugs to a cardboard box, swag from the now-failed financial institution Silicon Valley Bank is attracting bids on eBay.
Along with those who appear to be manufacturing items with the SVB logo and tongue-in-cheek “Bank Run 2023 FDIC 250K” OR “Risk Management Department” messages, there are number of other singular items for sale.
A branded “corporate swag” tumbler and bottle set surpassed $75 Monday with nearly seven days before the auction’s close. Bidding for a hat and 12-ounce tumbler set reached $100.
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The seller of a $50 used, blue SVB coffee mug claims to have been an employee at the failed bank:
I worked for Silicon Valley Bank in the Enterprise Business Analytics team as a data scientist,” the alleged former employee wrote. I am utterly shocked by what has happened and am extremely concerned about the future. Buying this mug helps me out but also gets you a piece of history to one of the fastest banking failures in US history.
This mug was used on the day to day and shows signs of wear. But those knicks (sic) in the powder coating just tell my story of grinding, analyzing, and ultimately failing to help the bank use data to help the bank and its customers have success.
Standing out from the tumblers, T-shirts and hats, however, was a teal cardboard box with the white and black SVB logo.
As of Monday, bidding had reached $201 for the box.
“Box received after getting offer letter one month before the bank blew up,” A message from the seller reads. “Limited edition. Need to pay rent this month, please bid.”
U.S. regulators closed the Silicon Valley Bank on Friday after depositors rushed to withdraw their funds all at once. It was the second largest bank failure in U.S. history, behind only the 2008 failure of Washington Mutual. New York-based Signature Bank also collapsed in the third-largest failure in the U.S.
The Treasury has set aside $25 billion to offset any losses incurred. Fed officials said, however, that they do not expect to have to use any of that money, given that the securities posted as collateral have a very low risk of default.
The Associated Press contributed to this report.
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