There might be some hope for Silicon Valley Bank to spring back to life.
Twitter and Tesla big boss Elon Musk hinted at the possibility of the social media behemoth purchasing the beleaguered Silicon Valley Bank.
“I think Twitter should buy SVB and become a digital bank,” tweeted Min-Liang Tan in the face of the ongoing chaos. Tan is cofounder and CEO of Razer, a company that sells gaming computers.
Elon Musk responded to Tan’s tweet by stating:
“I’m open to the idea.”
On Friday, US regulators announced the closure of Silicon Valley Bank and seized all of the institution’s assets.
I think Twitter should buy SVB and become a digital bank.
— Min-Liang Tan (@minliangtan) March 11, 2023
Silicon Valley Bank Implosion Rattles Global Markets
The move, which makes SVB the largest retail bank to fail since 2008, shook global markets and left billions of assets belonging to firms and investors stranded.
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