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Washington (News Desk) America is also a victim of the financial crisis, the Silicon Valley bank went bankrupt, the California Department of Financial Protection
He ordered the closure of this bank. According to the details, the Federal Deposit Insurance Corporation has been made receiver of the bank. It is also entrusted with the responsibility of keeping customers’ money safe. Silicon Valley is the 16th largest bank in the United States. Remember, the financial crisis of 2008 started with the bankruptcy of Lee Hmin Brothers Bank, which led to the global financial crisis. The closing of Silicon Valley Bank shocked the technology industry. The bank had assets of $209 billion and deposits of $175.4 billion. The bank previously provided financial support to new technology companies and companies investing in venture capital.
