Elon Musk just said he is "open to the idea" to buy Silicon Valley Bank and become a digital bank

Elon Musk just said he is "open to the idea" to buy Silicon Valley Bank and become a digital bank.

Recently, he purchased Twitter for $44 billion, saying Twitter will likely become cash positive.

As of December, roughly 95% of Silicon Valley Bank's deposits were FIDC uninsured, per CNBC.

Notably, also, nearly half of all US venture capital-backed startups were involved with Silicon Valley Bank, per Bloomberg.

88% of Forbes' 2022 next billion startups are SVB clients, per their own home page.

44% of US VC-backed per their own website.

his list will be updated as more names are named.

Currently it is estimated that 50% of all US startups used Silicon Valley Bank.

Additionally, before the collapse of Silicon Valley Bank, $SIVB, the CEO sold $3.57 million of stock within the last two weeks.

Silicon Valley Bank has collapsed, the largest bank since 2008.

Silicon Valley was the 16th largest bank in the US, holding $210 billion in assets.

Read more: https://unusualwhales.com/news/roughly-95-of-silicon-valley-banks-deposits-were-fidc-uninsured