this is incorrect: "FDIC has implied that insured funds (up to $250K per account) will be released within 7 days." Specifically, the FDIC has explicitly stated (rather than implied) that insured funds will be released on Monday (rather than within 7 days). https://www.fdic.gov/news/press-releases/2023/pr23016.html

The same statement also says "The FDIC will pay uninsured depositors an advance dividend within the next week." which I assume means some percentage of the uninsured funds based on a worst case scenario of the recovery.

Another issue is that this isn't just about the company not having funds, but also funds that may have been transiting through SVB today. At least one payroll provider was affected.