With total assets of $209 billion at the end of last year, according to the Federal Deposit Insurance Corporation (FDIC). Silicon Valley Bank experienced a bank run incident earlier this week. CEO of Twitter Elon Muskdid not close the doors to pick up the ‘sinking’ bank on Friday.
Musk commented, “I’m open to this idea” in a tweet he posted today in response to Twitter’s proposal to buy the bank that failed to provide digital banking services. made.
I’m open to the idea
— Elon Musk (@elonmusk) March 11, 2023
NEWS CONTINUES BELOW
It’s important to note that Elon Musk’s vision for Twitter has always been linked to payments. Speaking at Morgan Stanley’s Technology, Media and Telecom Conference earlier this month, Musk claimed that Twitter has the potential to become “the world’s largest financial institution.”
Koinfinans.com As Ripple Chief Technology Officer David Schwartz highlighted in a tweet less than a month ago, as we reported, SVB has been ranked as the 20th best bank in the United States. It was also, as the name suggests, one of the largest lenders to the American technology industry, based in Silicon Valley.
According to a report on CNN, the FDIC said all insured depositors will have access to their assets by Monday, while uninsured customers will pay a forward dividend later in the week.
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Source : The Crypto Basic