ALERT: What First Citizens Bank’s Acquisition of SVB Assets Means for Its Wine Division
On March 27, the Federal Deposit Insurance Corporation (FDIC) announced in a press release that Silicon Valley Bank (SVB) was officially acquired by North Carolina-based First Citizens Bank. Just over two weeks after many tech startups and venture capitalists withdrew vast sums of money from SVB, it crashed—the second-biggest bank collapse in U.S. history. The…
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