Silicon Valley Bank's Former Parent Company Files for Bankruptcy

SVB Financial said it has around $2.2 billion in liquidity, about $3.3 billion in bond debt and $3.7 billion of preferred equity outstanding.

The company also specified that SVB Capital and SVB Securities, respectively its venture capital and broker-dealer arms, are not included in the bankruptcy filing.Adds additional detail on SIVB's financials and background on collapse of Silicon Valley Bank.Adds the SVB Financial is Silicon Valley Bank's former parent company in headline, first paragraph; adds that SVB Capital and SVB Securities are not included in the bankruptcy.

circle Ripple Plus causing a general sell-off in risk-on assets which didn't apply to Bitcoin in this instance.

circle Ripple Ripple.. I thought they had great banking relationships

circle Ripple What about Tether? Has anyone actually ever properly audited them yet?!

circle Ripple But ripple not so much 🥶

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Silicon Valley Bank's former parent company has filed for bankruptcy protection | CNN BusinessSVB Financial Group, the company that owned the failed Silicon Valley Bank until the US government took it over last week, has filed for Chapter 11 bankruptcy protection. Woke go broke... Get woke, go broke
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Former parent company of federally-seized Silicon Valley Bank seeks bankruptcy protectionBREAKING: The parent company of Silicon Valley Bank, seized last week by the U.S., is filing for Chapter 11 bankruptcy protections.
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Credit Suisse, Citi and more bank stocks tumble amid Silicon Valley Bank turmoilBank stocks in the U.S. and Europe are tumbling as the global financial system continues to reckon with the Silicon Valley Bank collapse—the largest bank failure since 2008. Chaos and fear have set in It used to be that keeping money in a bank was not a risk but under Biden that has all changed. Don't forgot CreditSuisse which is happening right now.
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