They knew, and they were trying to raise money to cover it, and I've seen reports that they actually had it lined up - preventing this failure - but Peter Thiel, buddy of Elmo, buddy of TFG, buddy of Putin, had his VC company put out a statement that everyone must withdraw all their accounts immediately. And the bank crashed.
SVB was stupid, and irresponsible, but Thiel was evil.
@ScottSoCal
So basically a collapse triggered by a run triggered by an oligarch. That's not weird at all.