Elon Musk showed interest in buying a problem bank Silicon Valley Bank – Bits Media

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Илон Маск проявил интерес к покупке проблемного банка Silicon Valley Bank - Bits Media

Twitter General Director Ilon Musk announced the possibility of acquiring a problem bank Silicon Valley Bank. This can help turn Twitter into a financial center and a digital bank.

Yesterday, banking regulators of California announced the closure of the financial group Silicon Valley Bank (SVB) and the transition of all structures to the external management of the Federal Corporation for Deposit Insurance (FDIC). 

SVB was considered a high -tech and “friendly to cryptography” bank. He served cryptocurrency hedge funds, as well as venture companies in the industry, Such as circle, Blockchain Capital, Castle Island Ventures, Dragonfly is Pantera Capital. According to independent sources, The bank funded more 30 000 Startups.

Against the background of unfolding events, co-founder and general director of Razer Min-Lan Tan (Min-Liang Tan) Twitter turned to Ilon Mask (Elon Musk) and suggested considering the possibility of buying SVB and turning Twitter into a digital bank. Elon Musk answered this: "I am open to this idea".

Earlier in an interview with the executive director of Morgan Stanley Michael Grimece (Michael Grimes), Mask said, that Twitter has every chance of becoming the largest financial institution in the world, Just providing people with convenient payment methods. The acquisition of a developed Silicon Valley infrastructure can be a logical stage in the implementation of Mask plans.

According to FDIC, At the time of the introduction of external management, the general assets of Silicon Valley Bank $209 billion. The regulator notified SVB customers, that all the contributions, not exceeding $250 000, will be available to their owners on Monday morning, 13 Martha.

Today, the operator of one of the largest stablcoins Circle reported, what $3,3 The USDC billion billion is stored in Silicon Valley Bank. Against this background, USDC and DAI courses got rid of the dollar exchange rate.