Elon Musk allowed the purchase of bankrupt bank SVB
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American entrepreneur Elon Musk tweeted that he is open to buying bankrupt Silicon Valley Bank (SVB). So he responded to the post of one of the users, who suggested that he buy SVB and make it a digital bank.
Earlier today, March 11, the California Digital Regulator declared bankrupt SVB, the 16th largest bank in the US. The credit organization was focused on start-ups.
The SVB bankruptcy was the largest since the 2008 crisis, the bank became the second largest bankrupt in US history after Washington Mutual Bank.
In the investor prospectus, SVB explained that it needed to recover the $1.8 billion in losses it incurred as a result of the sale of part of its portfolio of assets. After that, the shares of the company collapsed by 60%.
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