The parent firm of Silicon Valley Bank is announcing that it is filing for bankruptcy as the price of Bitcoin (BTC) skyrockets 30% in a week. In a new press release, the SVB Financial Group, the conglomerate that owns SVB, says it’s going to file for Chapter 11 bankruptcy as a means of preserving value. The post Silicon Valley Bank’s Parent Firm Files for Bankruptcy As Bitcoin Soars Over 30% in a Week appeared first on The Daily Hodl .
