The group, present in the United States, Europe, Asia and Israel, offers a range of financial services to start-ups, ranging from simple maintenance of bank accounts to fundraising advice. On March 10, the federal bank deposit guarantee body, the Federal Deposit Insurance Corporation (FDIC), placed the SVB under guardianship, barely two days following the announcement by the president of this bank of a fundraising of 2.5 billion dollars, to face a liquidity crisis as sudden as unexpected.
Analysts attributed the bank’s financial difficulties to the monetary tightening policy adopted by the US Federal Reserve to counter inflation. The FDIC’s takeover of the bank means shareholders have lost their entire investment, with the stock price dropping from nearly $800 to zero for a bank whose market capitalization peaked at $44 billion at the end of 2021.
Lien court:
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