4/13/2023 0 Comments Pinterest coffin nailsThe institution specialized in serving medium and small companies and start-ups, mainly from the technology industry. What was a Silicon Valley bank anyway? What were the characteristics of this institution and why was it so important to tech startups and the cryptocurrency market?Įric Shmyd, XTB: The Silicon Valley Bank was founded in the 1980s and has since become one of the most important business banks in California’s Silicon Valley. Eric Schmid, Emerging Technology Analyst at XTB Brokerage, answers our questions. Therefore, we asked the expert to explain as simply as possible the reasons for the collapse of the SVB, assess the situation on the market and a possible repetition of the 2008 banking crisis. However, it is worth sticking to the facts, not conjectures and emotions. There is a possibility of another customer panic, fatal for any financial institution. The SVB case also affected cryptocurrencies. The recent collapse of Silicon Valley Bank has become an extremely high-profile topic, and the mere mention of the acronym SVB could unsettle a market thousands of miles from the US.Īlthough the situation in the US seems to be stabilizing somewhat, since Monday the problems of the Americans have been suffering, including from the Polish market or the Swiss bank Credit Suisse.
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