Elon Musk: The California Banking regulator on Friday announced the shutdown of the Silicon Valley Bank. The regulator has seized all assets and customers’ fund deposits of the bank.
With this move, SVB became the largest retail bank to fall since the great global recession of 2008.
Amid the chaos in the UN share market and customers of Silicon Valley Bank, Razer CEO Min-Liang Tan in a post suggested Twitter should think of buying Silicon Valley Bank and modifying it into a digital bank.
I’m open to the idea
— Elon Musk (@elonmusk) March 11, 2023
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Twitter Chief Elon Musk interestingly replied to Liang’s tweet, saying, ” I am open to the idea”.
Silicon Valley Bank was shut down by regulators after its share shrunk by 60% in a single trading day.
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