Published by
The Street
The Street
By Luc Olinga Silvergate served the cryptocurrency industry, while SVB was the bank for Silicon Valley tech startups. It’s a black week for the American financial system: In just 48 hours, the banking sector has been shaken by the collapse of two major banks. Most worrying is that these banks served two so-called growth economic sectors: the tech sector and the cryptocurrency industry. SVB Financial Group, (SIVB) – Get Free Report the lender to Silicon Valley startups, failed on March 10, falling into the hands of the FDIC. The federal agency has taken control of the banking company, reviving …