The SVB Financial Group applies for insolvency protection according to Chapter 11, since BTC has tapped $ 27,000

Von Krypto News Österreich

Die angeschlagene technologieunterstützende Bank kündigte eine Woche, nachdem ihre Aktien gestoppt wurden und die FDIC eingreifen musste, offiziell an, eine „gerichtlich überwachte Reorganisation nach Kapitel 11“ zu beantragen. Dies geschieht inmitten des jüngsten Preisschubs von BTC, der es auf ein Mehrmonatshoch von 27.000 $ trieb. Die in Kalifornien ansässige Bank skizzierte die neuesten Entwicklungen in einer PR von heute und gab an, dass der Antrag an das US-Konkursgericht für den südlichen Bezirk von New York geschickt wurde. Die SVB Financial Group sagte, die Fonds von SVB Securities und SVB Capital sowie Komplementärgesellschaften seien nicht in der Einreichung nach Chapter 11 …
The stricken technology -supporting bank terminated a week after its shares had been stopped and the FDIC had to intervene, officially applying for a "court -monitored reorganization according to Chapter 11". This is done in the middle of the latest BTC price thrust, which drove it to an $ 27,000 of $ 27,000. The bank, based in California, outlined the latest developments in a PR and stated that the application to the US bankruptcy court for the southern district of New York was sent. The SVB Financial Group said that the funds of SVB Securities and SVB Capital as well as complementary societies were not in the submission according to Chapter 11 ... (Symbolbild/KNAT)

The struck technology -supporting bank terminated a week after its shares were stopped and the FDIC had to intervene, officially to apply for a "court -monitored reorganization according to Chapter 11".

This is done in the middle of the latest BTC price thrust, which drove it to an $ 27,000 of $ 27,000.

  • The Bank based in California outlined the latest developments in a PR and stated that the application to the US bankruptcy court was sent for the southern district of New York.
  • The SVB Financial Group said that the funds of SVB Securities and SVB Capital as well as complementary societies are not included in the submission according to Chapter 11. They continue to work "in normal passage".

"The SVB Financial Group is no longer associated with the Silicon Valley Bank, na, or the private banking and asset management business of the bank, SVB private. 11 included. " - reads the Pr.

  • The SVB Financial Group stated that it has to have liquidity of $ 2.2 billion as well as additional cash and investments in SVB Capital and SVB Securities, which they would use to explore "strategic alternatives". It is believed that its debts are $ 3.3 billion in the "total nation of unsafeive bonds that are only recourse to the SVB Financial Group".

"The chapter 11 process will enable the SVB Financial Group to get the value, while it evaluates strategic alternatives for their valuable businesses and assets, especially SVB Capital and SVB Securities. SVB Capital and SVB Securities are still active and supervised by their long-term and independent management teams." - Commented William Kosturos, Chief Restructuring Officer of the SVB Financial Group.

  • The bank's problems became known last week when it announced the sale of billions of dollars from her portfolio and realized a loss of $ 1.8 billion. When the stock crashed, the FDIC had to intervene and hire the trade.
  • Since then, some other US banks have moved into the spotlight with similar problems, while reports appeared that several supervisory authorities will initiate an investigation against SVB.
  • The battered banking system benefited Bitcoin and the rest of the cryptoma market. BTC rose to $ 27,000 for the first time since June 2022.
  • Here you can see which crypto companies were in any way related to SVB and the Signature Bank-another banking organization that has come into difficulty.

Selected image with the friendly approval of Bloomberg