First Citizens has acquired failed bank Silicon Valley and will open former SVB branches today as First Citizens Bank and Trust Company. According to the Federal Deposit and Insurance Corporation, First Citizens Bank is set to acquire the embattled state-chartered commercial bank Silicon Valley Bank (SVB). In a recent statement, the FDIC revealed that the bank … Read more
Christine Okike said BlockFi remains safe and looked to access significant cash held with Silicon Valley Bank yesterday. Despite the Silicon Bank exposure, a BlockFi bankruptcy lawyer maintains that the digital asset lender is safe and in no immediate danger. The lawyer, Christine Okike, stated that the embattled New Jersey-based company also has sufficient funds to continue … Read more
HSBC’s announcement came at a time the United States government announced a $25 billion bailout of struggling Silicon Valley Bank and Signature Bank to avoid a further banking crisis. In a stunning turn of events, HSBC Holdings Plc (NYSE: HSBC) has announced that its United Kingdom subsidiary has acquired troubled Silicon Valley Bank (SVB) UK … Read more
According to Bank of London co-founder and CEO Anthony Watson in a statement, the acquisition of Silicon Valley Bank SVB’s assets could be a unique opportunity to grow the banking sector in the United Kingdom. The defunct Silicon Valley Bank (SVB), a commercial bank headquartered in Santa Clara, California, has attracted the attention of major … Read more
Crypto venture capital firms advised their portfolio companies to pull their investments from American commercial bank Silicon Valley Bank (SVB). Specifically, five crypto-focused venture capital investors have urged portfolio companies to withdraw their funds from the banks as a precaution. This comes as Silicon Valley Bank Financial Group (NASDAQ: SVB) struggles to convince clients after … Read more