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Silicon Valley Bank's Former Parent Company Files for Bankruptcy

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Silicon Valley Bank's collapse was sandwiched between the implosions of crypto-friendly banks Silvergate and Signature Bank. While not as focused on crypto, SVB did have some high-profile crypto clients like circle and Ripple.

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.

 

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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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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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