The bankruptcy of Silicon Valley Bank (SVB) has caused panic among startup owners and venture investors. The collapse of a banking institution could have an impact on Britain, Canada, India and China.

Writes about it Bloomberg .

According to experts, the bankruptcy of the bank can lead to the collapse of startups around the world if the government does not immediately intervene in the problem.

The bank’s UK division must be declared insolvent. It does not currently serve customers. Executives at about 180 tech companies sent a letter to British Treasury Chancellor Jeremy Hunt urging him to intervene.

The technological leaders of the Asian region are also alarmed. Analysts note that the bankruptcy of SVB will seriously affect the tech industry.

Leading experts are now calling for stricter banking regulation to prevent a repeat of the situation with other banks serving the tech industry.

According to analysts, the full amount of losses caused by the bankruptcy of SVB is still impossible to ascertain, but the consequences will be felt all over the world.

Meanwhile, Elon Musk does not rule out the possibility of acquiring a bankrupt bank in order to turn it into a digital bank.

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