SVB Collapse Sends Shockwaves Through Financial World as US Authorities Step in to Save Clients and Bitcoin Gains Ground
bitcoinglobalmacro.substack.com
Over the past week, the financial world has been rocked by the news of Silicon Valley Bank's failure - the largest bank to go under since the 2008 financial crisis. The shock announcement came last Wednesday when the company revealed it needed to raise $2.25 billion to strengthen its balance sheet. To compound matters, it had sold all of its available-for-sale bonds, incurring a $1.8 billion loss.
SVB Collapse Sends Shockwaves Through Financial World as US Authorities Step in to Save Clients and Bitcoin Gains Ground
SVB Collapse Sends Shockwaves Through…
SVB Collapse Sends Shockwaves Through Financial World as US Authorities Step in to Save Clients and Bitcoin Gains Ground
Over the past week, the financial world has been rocked by the news of Silicon Valley Bank's failure - the largest bank to go under since the 2008 financial crisis. The shock announcement came last Wednesday when the company revealed it needed to raise $2.25 billion to strengthen its balance sheet. To compound matters, it had sold all of its available-for-sale bonds, incurring a $1.8 billion loss.