Silicon Valley Bank: bad news

Silicon Valley Bank: bad news 

10 March 2023

Category

Silicon Valley Bank is one of the biggest banks in USA and the biggest in Silicon Valley. It’s a branch of SVB Financial Group. 

The Silicon Valley Bank provided financial services to many crypto-focused venture firms.

The Bank ran out of capital following nearly $2 billion in losses on its investments, especially US government bonds. 

The Silicon Valley Bank then issued shares worth $2,2 billion to try to raise cash and bolster its capital eroded by liabilities: the operation failed…and consequently and, consequently, the entire banking giant. 

SOURCE: CoinTelegraph

READ ALSO COINBASE GENERATES NEW BUSINESS ANSWERS…

Recent Post
Binance and CZ violate law

Binance and CZ violate law

Loro Piano blockchain fashion Palo Alto

Fashion meets technology: Loro Piano introduces the traceability of garments on blockchain

Automotive: Lancia makes its debut in the metaverse

Automotive: Lancia makes its debut in the metaverse

Fujitsu likes cryptocurrencies

Fujitsu likes cryptocurrencies 

versy logo

From Text to VR: the new ride

Harvest Keeper stolen 1M$ from users

Harvest Keeper: stolen $1M from users 

1 2 3 36
TheMetaEconomist 2022 - Privacy / Cookies
crossmenu