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
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Chiara Chiommino is a graduating student in science of communication with work’s experience in social media marketing and web marketing as Brand Manager for Italian Cigar Group SRL. She took part in an internship experience entitled "Il Metaverso" in Italy.
