Ripple Reassures Investors Over Its Financial Strength Despite Having Exposure To Silicon Valley Bank ⋆ ZyCrypto
Technologie Ripple Reassures Investors Over Its Financial Strength Despite Having Exposure To Silicon Valley Bank ⋆ ZyCrypto Il y a 34 secondes Nouvelles Bitcoin Ethereum Ripple CEO Brad Garlinghouse on Sunday disclosed exposure to Silicon Valley Bank. While Garlinghouse declined to say how much capital was held at the fallen bank, he assured investors that the company remains strong. Ripple Had ‘Some Exposure’ To SVB Ripple chief Brad Garlinghouse has clarified the firms position regarding its exposure to Silicon Valley Bank, which was recently closed by the California Department of Financial Protection. Garlinghouse a pris à Twitter on March 12 to reveal that Ripple had “some exposure” to SVB as a banking partner as the now-defunct tech lender held some of its cash reserves. He failed to specify the exact amount of cash the blockchain payments company had in SVB. Nevertheless, “we expect NO disruption to our day-to-day business, and already held a majority of our USD w/ a broader network of bank partners,” Garlinghouse assured. Ripple is just the latest crypto-focused company to speak on its ties to SVB. The California Department of Financial Protection and Innovation closed the bank Friday afternoon, appointing the Federal Deposit Insurance Corporation (FDIC) to take over operations. SVBs abrupt collapse raised