Entrepreneur Elon Musk, founder of American companies SpaceX and Tesla, admitted the possibility of acquiring the bankrupt large investment bank Silicon Valley Bank (SVB) after the credit institution went bankrupt. About this businessman knowledgeable on Twitter.
One of the users suggested that the social network Musk had bought SVB was bought and turned into an electronic bank. In response, the businessman announced that he was ready to consider the possibility of this acquisition, but did not specify when this transaction could take place.
“I am open to this idea (purchase of SVB and conversion of a credit institution into an electronic bank – socialbites.ca),” Musk wrote.
March 11 California Department of Financial Protection and Innovation closed Silicon Valley Bank based in Santa Clara County. The bankruptcy of a major US bank was recorded for the first time since the onset of the 2008 global financial crisis.
Credit institution specializing in investing in new technology companies. However, after the bank’s management sent the letter announcing its intention to raise a total of more than $2 billion in capital in a short time following the financial losses, a large depositor outflow started and a sharp decline in deposits began. The value of SVB shares kicked off. These factors ultimately led to the collapse of the investment financial institution.