US Officials Working To Sell SVB Assets

U.S. officials went bankrupt the other day. Silicon Valley Bank’s then it seeks a solution to prevent a major crisis.

According to Bloomberg’s report, regulators are making great efforts to sell some of the SVB assets until the markets open. US financial regulators plan to pay customers with uninsured deposits with SVB assets. Among bank customers Circle, Avalanche There are crypto startups and some tech giants.

According to sources, the planned payment amount has not yet been revealed, but allegedly it is aimed to pay 30% to 50% of the assets of uninsured depositors.

How Silicon Valley Bank Failed

According to the latest balance sheet of the bank, which was declared bankrupt in the past days, it had deposits worth 175 billion dollars. SVBAlthough the company wanted to get rid of its financial situation by selling its $209 billion assets, it turned out that this move would be very costly.

According to the source, the majority of the bank’s assets are in treasury bonds. The bonds fell as the Fed raised interest rates. The sale of assets was not preferred before the bankruptcy, as the sale of bonds by the SVB meant more losses.