The fact that no other bank stepped in to buy the assets makes it seem like this is going to be dire for depositors. There's something wrong in the books, or the liabilities are higher than the assets, both of which means that depositors are going to lose some money.

I have a friend that uses SVB for his startup and now all his funds are frozen. The big question is how long will the money be locked up for? Could it be 6+ months?