Search Coins

NFT Collection The Superlative Secret Society Price, Stats, and Review

cryptodaily.co.ukin 2 years
-2

Dogecoin Price Surges Past $0.17 as Triple Bottom Pattern Signals 130% Upside Potential

www.coinspeaker.com41 minutes ago
0

Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

New Zealand Says Crypto ATM Ban Aims to Close Money Laundering Loophole

news.bitcoin.coman hour ago
0

Chainlink Dominates Developer Interest in RWA Sector, Santiment Finds

coindoo.coman hour ago
0

BlockDAG’s $0.0016 Locked Price & 3,025% ROI Set It Apart from Ripple & Toncoin as the Best Crypto for the Future

coindoo.coman hour ago
0

Last Crash Before The Surge: Why Bitcoin Is Set To Drop Below $107,000

Institutions Buy Bitcoin In Record Numbers, But Why Is Price Still Below $111,900 ATH?

Bitcoin Hits New All Time High at $112,000 As Corporations Buy Record Amounts of BTC

Circle and OKX Join Forces to Boost USDC Liquidity for 60 Million Users

news.bitcoin.com2 hours ago
0

Stock Market Could ‘Overshoot to the Upside’ on ‘Unloved’ Rally, According to BNP Paribas: Report

dailyhodl.com2 hours ago
0

TRON Founder Backs TRUMP Coin with Massive $100M Bet

coindoo.com2 hours ago
0

Decoding Ethereum’s role as ‘a store of value’ – Can ETH hit $3.2K soon?

ambcrypto.com2 hours ago
0

Cardano Just Dropped Reeve—And It Could Shake Up Enterprise Finance

bitcoinist.com2 hours ago
0

2M+ Users! BlockDAG’s X1 Miner App Shocks Crypto World, While DOGE Price Jumps & Pi Network Dips

coindoo.com2 hours ago
0

Kraken Partners with Backed to Bring xStocks to BNB Chain

www.livebitcoinnews.com2 hours ago
0

SPX6900 Breaks Out With 10% Surge, Eyes New All-Time High

coindoo.com2 hours ago
0

Arctic Pablo Coin Races Toward $0.008 Listing – Final Chance to Grab 4M+ Tokens at Presale Price as Brett and Floki Catch Fire

coindoo.com2 hours ago
0

Dogecoin To $3.94 This Cycle? This Chart Says It’s No Meme

www.newsbtc.com3 hours ago
0

HMRC to Require Crypto User IDs for Tax Starting 2026

news.bitcoin.com3 hours ago
0

Donald Trump Jr. invests in social media-turned BTC treasury firm

cointelegraph.com3 hours ago
0

Here Are the Top 5 Crypto Gainers Today as Altcoins Bounce Back

coindoo.com3 hours ago
0

Bitcoin Hits Record High Above $112K, Triggers $226M in Liquidations

coindoo.com3 hours ago
0

Trump Jr. Backed Thumzup Media To Invest In ETH, XRP, SOL, DOGE And LTC

AAVE flips Lido across ALL metrics – But is this just round one?

ambcrypto.com3 hours ago
0

Silicon Valley Bank: Elon Musk Shows Interest In Buying SVB After Collapse

Mar 12, 2023 10:02 AM +00:00
0

There might be some hope for Silicon Valley Bank to spring back to life.


Twitter and Tesla big boss Elon Musk hinted at the possibility of the social media behemoth purchasing the beleaguered Silicon Valley Bank.


“I think Twitter should buy SVB and become a digital bank,” tweeted Min-Liang Tan in the face of the ongoing chaos. Tan is cofounder and CEO of Razer, a company that sells gaming computers.


Elon Musk responded to Tan’s tweet by stating:


“I’m open to the idea.”


On Friday, US regulators announced the closure of Silicon Valley Bank and seized all of the institution’s assets.



I think Twitter should buy SVB and become a digital bank.


— Min-Liang Tan (@minliangtan) March 11, 2023




Silicon Valley Bank Implosion Rattles Global Markets

The move, which makes SVB the largest retail bank to fail since 2008, shook global markets and left billions of assets belonging to firms and investors stranded.


On the same day, startup founders withdrew assets in response to the bank’s dropping stock price following a capital raising announcement on Thursday evening.


One Twitter user supported Musk’s proposal, stating “What an opportunity!” However, another individual named Sanjay replied, “And sell another $20 billion in Tesla stock.” No thanks!”




The impact of Elon Musk’s tweets on the stock market, cryptocurrency prices, and public opinion of his enterprises can be substantial.


The billionaire’s tweets frequently draw broad media attention, and his comments can cause large price fluctuations in equities and cryptocurrencies.


In addition, his tweets can influence the public’s perception of his firms, such as Tesla and SpaceX.


Musk’s tweets, however, have also been the topic of controversy, with some criticizing his use of Twitter to make announcements or offer thoughts that may not be carefully researched or thoroughly weighed.


Experts Warn SVB Demise May Not Be An Isolated Incident

Meanwhile, SVB’s shares in New York fell 60% and trading was halted before California regulators announced the bank’s liquidation.


The California Department of Financial Protection and Innovation shut down SVB and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.






Financial analysts warn that the abrupt implosion of SVB, a four-year-old American lender and a pillar of the tech startup sector, may not be an isolated incident, and that clients and investors should prepare for the next domino to fall.


In a video address to staff, SVB CEO Greg Becker indicated that he is working with banking regulators “to identify a partner for the bank.” He emphasized that there is no assurance that an agreement will be reached.


According to news accounts, SVB, the 16th largest bank in the United States with a total of 17 branches across California and Massachusetts, primarily served tech customers and venture capital-backed enterprises, including some of the industry’s most popular brands.





Searching For Ways To Rescue SVB

At the time of writing, Reuters reported, citing Bloomberg News, on Saturday that the administrators of Silicon Valley Bank’s investment banking unit, SVB Securities, are seeking methods to buy the failed lender back from its parent firm.


Jeff Leerink, CEO of SVB Securities, and his team are seeking funding for a prospective management buyout of the company, according to a report quoting individuals familiar with the situation.


Bitcoin was little changed after news of SVB’s implosion, trading at $20,404 at the time of writing Sunday, data from crypto market tracker Coingecko shows.


-Featured image from Mirchi9

Share This Article


Get the most out of CoinFi News!

Save coins into your Watchlist and be the first to know about the latest market moving news.