Bitcoinist
2023-03-10 18:03:21

Banking Sector In Crisis: Silicon Valley Bank Closed By Regulator

Another bank is in crisis; Silicon Valley Bank (SVB) has followed the financial freefall amid Federal Reserve (Fed) Chairman Jerome Powell’s hawkish macroeconomic view and tightening policies to control inflation rates. With over 40 years in the market, Silicon Valley Bank is facing a significant downturn in its shares, falling more than 60% since Thursday.

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