SVB Financial Group, the parent of Silicon Valley Bank, is under acquisition talks after the failure of the Silicon Valley Bank caused chaos in the global market and stabilitycoins ទៅ depeg. Big banks are considering buying SVB Financial Group, but the ទីផ្សារគ្រីប will remain unbanked to Silicon Valley Bank.
Big banks and firms including JPMorgan Chase & Co., PNC Financial Services, Morgan Stanley, and Apollo Management are in talks to acquire SVB Financial Group, រាយការណ៍ Axios on March 13. However, commercial banking business Silicon Valley Bank is left out of the SVB Financial Group acquisition deal discussions. SVB Financial Group has other businesses including asset management, private wealth, and securities.
The U.S. Federal Deposit Insurance Corporation (FDIC) gave interested buyers to submit their bids before the deadline of Sunday afternoon. U.S. Treasury Secretary Janet Yellen also ruled out the probability of a government bailout of SVB.
Meanwhile, UK banks such as the Bank of London and HSBC on Sunday submitted bids to acquire Silicon Valley Bank UK. Britain’s Finance Minister Jeremy Hunt today announced that the government and the Bank of England have decided on a private sale of the UK arm of Silicon Valley Bank to HSBC.
A joint statement by the U.S. Department of the Treasury, Federal Reserve, and FDIC revealed that depositors will have access to all of their money starting March 13. However, shareholders and certain unsecured creditors will not be protected.
Crypto Market Remains Unbanked
The crypto market remains unbanked as Silicon Valley Bank is remained out of the deal. Also, other crypto-friendly banks ធនាគារ Silvergate និង Signature Bank have been closed by U.S. regulators.
Closure of banks causing stablecoins to depeg to USD as mining and redemption mechanisms are impacted. Investors and crypto firms are converting their stablecoins to other cryptocurrencies.
Binance CEO Changpeng “CZ” Zhao today completed a conversion of the remaining funds in the Industry ការងើបឡើងវិញ Initiative from BUSD into Bitcoin (BTC), BNB, and Ethereum (ETH) due to the collapse of crypto-friendly banks and stablecoins depeg events.
សូមអានផងដែរ: មូលនិធិ Ripple ជាប់គាំងនៅក្នុងធនាគារ Silicon Valley ដួលរលំ? Garlinghouse ឆ្លើយតប
ខ្លឹមសារដែលបានបង្ហាញអាចរាប់បញ្ចូលទាំងគំនិតផ្ទាល់ខ្លួនរបស់អ្នកនិពន្ធនិងស្ថិតក្នុងស្ថានភាពទីផ្សារ។ ធ្វើការស្រាវជ្រាវទីផ្សាររបស់អ្នកមុនពេលវិនិយោគលើគ្រីបគ្រីប។ អ្នកនិពន្ធឬការបោះពុម្ពផ្សាយមិនទទួលខុសត្រូវចំពោះការបាត់បង់ហិរញ្ញវត្ថុផ្ទាល់ខ្លួនរបស់អ្នកទេ។
Source: https://coingape.com/jpmorgan-among-big-banks-bids-to-acquire-svb-but-theres-a-catch/