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Market Cap:
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CryptoGlobe
2023-03-12 11:44:35

Ripple CTO Says Silicon Valley Bank Was ‘Insolvent’ Even Before the Bank Run Took Place

Ripple CTO Says Silicon Valley Bank Was ‘Insolvent’ Even Before the Bank Run Took Place

Recently, David Schwartz, CTO at FinTech firm Ripple, explained why he believes that Silicon Valley Bank (SVB) — which was closed by Californian regulators last Friday (March 10) and under the control of the US Federal Deposit Insurance Corporation (FDIC) — was “insolvent” event before last week’s bank run. SVB has $175 billion in deposits,

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