Fears have been heightened over the future of another United States bank this week after Silicon Valley Bank (SVB) announced a significant sale of assets and stocks aimed at raising additional capital.
However, some investors may be concerned that not all is well at the tech startup and VC-focused bank, particularly given the closure of crypto bank Silvergate just a day earlier. Shares in Silicon Valley Bank collapsed over 60%, wiping some $80 billion in value from the bank’s shares.
SVB is one of the top 20 largest banks in the United States and provides banking services to the likes of crypto-friendly venture firms Sequoia and Andreessen Horowitz (a16z).
In a Mar. 8 financial update, it disclosed it sold $21 billion worth of its securities holdings for
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