In a regulatory filing, the company states: "In light of recent Federal Deposit Insurance Corporation action and market volatility, we wanted to provide insight into our liquidity and capital resources. Opendoor Technologies (OPEN) held less than 1% of our total cash, cash equivalents and restricted cash at Silicon Valley Bank (SIVB) and our critical business operations were not run from SVB accounts. As of March 13, 2023, approximately 98% of our total cash, cash equivalents and restricted cash is held at the nation’s four largest banks."
Published first on TheFly
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