Silicon Valley Bank Has Filed For Bankruptcy Protection

Silicon Valley Bank files for Chapter 11 Bankruptcy.

The largest bank in Silicon Valley, Silicon Valley Bank (SVB), announced on Friday, March 10, 2023 that it had filed for bankruptcy. Subsequently, on the same day, it was shut down by the California Department of Financial Protection and Innovation due to inadequate liquidity and insolvency.

On Friday, March 17, the holding company of Silicon Valley Bank filed for Chapter 11 bankruptcy protection. Employees of the Silicon Valley Bank are blaming remote work for the bank’s insolvencies.

Previous Article

Binance Launches SPACE ID (ID) Token Sale on Binance Launchpad

Next Article

Daily Bitcoin Price Analysis

Related Posts