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

Metaverse and AI meet perfumes at Pitti Fragranze in Florence

Welly: the blockchain fast food guided by a DAO

Metaverse smell touch - themetaeconomist

The future of human-machine interaction: Spatial Computing

The mafias point to the metaverse

Tether USDT Bitfinex

Tether moves 139 million USDT to Bitfinex

Ripple Fortress Trust

Ripple, an expanding fund transfer system

1 2 3 51
TheMetaEconomist 2022 - Privacy / Cookies
crossmenu