A $3.57 million stock was sold in the previous two weeks following the Silicon Valley Bank Collapse.
ReadBefore Silicon Valley Bank, $SIVB, went under, the CEO had sold $3.57 million worth of stock in the previous two weeks.
After forcing SIVB lower with a 100% bearish warning and closing out his account today, this trader profited over 2000% over the course of three days.
Over 95% of the deposits at Silicon Valley Bank are FIDCs (uninsured).
Silicon Valley banks are connected to over half of all American businesses receiving venture capital funding.
After disclosing a $3.3 billion exposure to Silicon Valley Bank, Circle's USDC plunged to an all-time low of $0.9364.
According to rumor, the CEO of the Silicon Valley Bank anticipated their demise and just sold $3.57 million worth of stock.
According to Unusual Whales, before the collapse of Silicon Valley Bank, $SIVB , its CEO sold $3.57 million of stock within the past two weeks.
Silicon Valley is the 16th largest bank in the United States, holding $210 billion in assets. Before the closure and forfeiture orders were issued by US authorities, the stock price of $SIVB was down 60%.
The CEO of Silicon Valley Bank, Greg Becker, released a statement trying to reassure investors and entrepreneurs on Thursday afternoon. The company did not open for trading at 9:30 a.m. after its stock fell 62% in premarket trading.
