Embattled Silicon Valley Bank Seeking Outside Buy-Out

Published by
Wayarc Daily

Trading for SVB Financial Group (SIVB) was halted this morning as the firm reportedly seeks to be acquired after failing to raise fresh capital. SVB Financial Group is the parent company of Silicon Valley Bank, which counts crypto VC firms like Andreessen Horowitz (a16z) and Sequoia Capital among its customers Shares in the firm have plummeted more than 62% pre-market. Ahead of today’s news, various funds, including Peter Thiel’s Founders Fund, which has invested in stablecoin issuer Paxos and former crypto trading firm Tagomi (now part of Coinbase Prime), have also reportedly advised their po…

Read More

Leave a Reply