San Francisco. In the US, the Silicon Valley bank which funded big startups is facing a financial crisis. Due to the weak financial condition, the regulator of America has ordered the closure of the bank. Meanwhile, Twitter owner Elon Musk has shown interest in buying the troubled bank. Let us tell you that Razer CEO Min-Liang Tan made a post on Twitter. In this post, he wrote – Twitter should buy Silicon Valley Bank and it is necessary to make it a digital bank.
Responding to Liang Tan’s tweet on this whole matter, Elon Musk said – I welcome the idea. After this tweet, speculations are being made that Elon Musk is interested in buying Silicon Valley Bank. Explain that the startup-focused Silicon Valley bank has been shut down by California’s banking regulators. At the same time, the Federal Deposit Insurance Corporation has been appointed as the receiver.
Let us tell you that talking about this, Greg Baker, the head of Silicon Valley Bank, told the employees in a video message – he is working with banking regulators to find a buyer for the bank. There is no guarantee that a deal will happen, he added. Currently, the Federal Deposit Insurance Corporation has taken over control of the lender. Significantly, American company Bloomberg has claimed in a report that Greg Baker had sold shares worth $3.6 million of the company on February 27 as part of a trading plan. Last month, 12,451 shares were sold for the first time in more than a year. The sale was made through a revocable trust controlled by Greg Baker.
