Social media - risk driver or risk mitigation tool?

It was a scene out of futuristic fiction—a decades-old bank collapsing mere hours after a social media post went viral. 

In what was supposed to be a non-event, Silicon Valley Bank (SVB) announced they were selling securities to raise capital. Soon, subsequent Tweets questioning the health of SVB went viral. The posts prompted depositors to withdraw $42 billion within 10 hours, a devastating blow that led state regulators to close the bank. SVB wasn’t the only bank to experience a social media-induced run this year, with First Republic Bank following suit and collapsing two months later.

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