SVB Financial Group has filed for Chapter 11 Protection due to the impact of the collapse of Silicon Valley Bank.
According to a Wall Street Journal report, the parent of Silicon Valley Bank is seeking Chapter 11 bankruptcy protection. The Silicon Valley Bank is not part of the filing because it is under the control of the Federal Deposits Insurance Corporation, but the SVB group is looking for new owners for its other businesses.
This is a developing story.
Got something to say about SVB Private’s bankruptcy or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or Twitter.
For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
Disclaimer
BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.
More Stories
US Congress Aims to Repeal Biden’s Veto on SEC Digital Asset Regulation
New Crypto Documentary ‘Vitalik: An Ethereum Story’ Set for September Premiere
Fetch.ai (FET) Attracts Whales Ahead of ASI Transformation