.firstcitizens bank is nearing a deal for Silicon Valley Bank, Bloomberg reported, citing people familiar with the matter. thesamreynolds reports
A deal might be announced before the market opens Monday in the U.S., the people told Bloomberg.protection on March 17.
While Silicon Valley Bank didn't provide fiat on-ramps to exchanges, like Silvergate or Signature bank, a number of key crypto companies like Circle Financial banked there. Circle’s USDC stablecoinfor a few days after the company announced that $3.3 billion of its deposits were at Silicon Valley Bank.
In a recent interview on CoinDesk TV’s “First Mover”, Brian Brooks, the former acting head of the Office of the Comptroller of the Currency , said that the U.S. Government is actively trying to choke off
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What Silicon Valley Bank Did RightThere’s a reason Silicon Valley Bank became such a fixture among startups: it understood their needs better than any other bank. Even now, many banks don’t have the flexibility and understanding to make banking easy for startups. With SVB gone, a lot of young companies will find it harder to manage their finances.
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