As we know the news broke on the 10th of march (2023) of the financial collapse and freeze of Silicon Valley Bank (the 16th largest bank in the USA and the second in the country's history to falter and outright fail,) this will cause a cascading collapse of most of the banking system in the USA if not carefully managed. From what I understand, many start-ups and digital payment systems (like Etsy and Shopify) now have their assets frozen, and can't pay employees and crafters alike for their content.
does Imvu uses the bank as an asset holder
if it does, what does that do the cash creator program?
I'm really hoping the answer is no, and we as a community will not be impacted whatsoever.
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Communityposted
7 months ago
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Posted by “4u” on March 14, 2023.
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IMVU is dependant on a number of third parties, I'd imagine a collapse such as this send shockwaves through the entire tech/crypto industry.
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7 months ago
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Posted by “RigsK” on March 14, 2023.
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Hi @ShopTina we do not use SVB so we are okay! Thank you for asking.
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Posted by “ShopTina” on March 12, 2023.
[Archived]As we know the news broke on the 10th of march (2023) of the financial collapse and freeze of Silicon Valley Bank (the 16th largest bank in the USA and the second in the country's history to falter and outright fail,) this will cause a cascading collapse of most of the banking system in the USA if not carefully managed. From what I understand, many start-ups and digital payment systems (like Etsy and Shopify) now have their assets frozen, and can't pay employees and crafters alike for their content.
I'm really hoping the answer is no, and we as a community will not be impacted whatsoever.
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Community posted 7 months ago Admin
Posted by “4u” on March 14, 2023.
[Archived]IMVU is dependant on a number of third parties, I'd imagine a collapse such as this send shockwaves through the entire tech/crypto industry.
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Community posted 7 months ago Admin
Posted by “RigsK” on March 14, 2023.
[Archived]Hi @ShopTina we do not use SVB so we are okay! Thank you for asking.
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