The filing came just days after federal regulators were forced to shut down SVB, which faced a run from worried depositors after its disclosure of $1.8 billion loss on underwater sales of its bond portfolio sparked fears that accounts could be wiped out.
SVB Financial Group said it is “no longer affiliated with Silicon Valley Bank” following its collapse into federal receivership. The Federal Deposit Insurance Corp. is now running its successor, Silicon Valley Bridge Bank, which is not part of the bankruptcy filing.
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If he goes bankrupt, there will be no other organization to buy him, right?
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