Silicon Valley Bank suffered a sudden collapse and became the largest bank failure since the financial crisis. The bank was closed by California regulators and the FDIC has control of its assets.
Razer CEO Min-Liang Tan proposed on Twitter that Twitter should buy SVB and become a digital bank. Elon Musk said, “I’m open to the idea".
SVB CEO Greg Becker is working with regulators to find a partner for the bank, but there is no information on who it might be or when a deal could be reached.