According to a report by the Times of Israel, the country’s two largest banks were able to transfer $1 billion out of Silicon Valley Bank to accounts in Israel before it was seized by the feds.
The collapse of Silicon Valley Bank (SVB) was the fault of US President Joe Biden’s administration, Donald Trump has claimed, warning it could lead to a new Great Depression in the United States.
Home Depot co-founder Bernie Marcus believes the collapse of Silicon Valley Bank "will finally wake up" Americans to "understand that we’re living in very tough times."
HSBC has agreed to acquire the UK arm of Silicon Valley Bank for a nominal fee of £1, following the collapse of the bank due to its specialization in lending to technology companies.
Shalanda Young, Biden’s director of the Office of Management and Budget, assured Americans that the banking system was “resilient” amid the collapse of the Silicon Valley Bank (SVP).
A new report from the Associated Press indicates that many American teens have become disillusioned with college and have opted to skip it in favor of going to trade school or working a job that does not require an undergraduate degree.
The Federal Deposit Insurance Corp. (FDIC) and Federal Reserve are discussing creating a fund to backstop deposits if more banks fail following the collapse of Silicon Valley Bank.
