Fall of Silicon Valley Bank: The broader implications and why they matter to S’pore

The start of the end for SVB, which bankrolled start-ups, can be traced to US Fed interest rates hikes. PHOTO: REUTERS
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SINGAPORE - Financial markets globally have been roiled by the collapse of California-headquartered Silicon Valley Bank (SVB) and the closure of Signature Bank in New York state over the weekend.

California-based Silvergate Bank, a crypto bank, announced earlier last week that it planned to wind down and voluntarily liquidate its operations.

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