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As SVB has been closed and its deposits have been taken over, the Federal Deposit Insurance Corp. has announced that insured depositors will have access by Monday.
Silicon Valley Bank's stock has been in a tailspin since the group announced it would be seeking to raise billions in capital to cover losses.
The tech-focused bank announced a plan to raise over $2 billion in capital in an attempt to offset losses on bond sales.
Silvergate Bank will wind down operations and be voluntarily liquidated. Its Silvergate Exchange Network payment platform was already suspended.
The company plans to sell convertible notes as a way to help raise money for the launch of its R2 vehicles.
Even after a mass layoff late in 2022, thousands of further jobs at the Meta company may be on the line this week as the company continues to cut costs.
Biden administration Secretary of Commerce Gina Raimondo says the incentives are to coerce companies into investing in R&D, not buybacks.
The company sees ChatGPT as an opportunity to showcase the capabilities of AI on smartphones.
Singh has been charged with things like conspiracy to commit securities fraud and conspiracy to commit money laundering, among other charges.
The U.S. Justice Department could be planning a lawsuit to block Adobe's $20 billion acquisition of Figma.
