Claim $500Breaking: HSBC Buys Out Troubled Silicon Valley Bank UK; Bitcoin Price To React?
Crypto News: In the latest turns of events, the United Kingdom (UK) government announced that HSBC holdings acquired the British subsidiary of the Silicon Valley Bank. This move comes after the United States agency moved to support the deposits of the collapsed bank.
HSBC To Take Care Of SVB UK
As per reports, HSBC CEO, Noel Quinn stated that the SVB UK acquisition makes excellent strategic sense for the business in the United Kindom. However, HSBC holdings stated that it paid a purchase price of £1 as part of the transaction.
Jeremy Hunt, British Finance Minister in a tweet mentioned that the government and the Bank of England facilitated a private sale of the collapsed Silicon Valley Bank’s UK arm to HSBC. It added that the deposits will be protected with no taxpayer support. Meanwhile, Britain hasn’t announced broader liquidity measures for the banking system as the United States did.Read More Crypto News Here…
He stated that the authority would look after the UK’s technology sector and they are working in order to deliver the promise. Earlier, the British Finance Minister highlighted that its administration and the Bank of England are eagerly working to minimize and avoid any probable damage caused by SVB failure.
JPMorgan Among Big Banks Bidding To Acquire SVB, But There’s A Catch| Read Here
The report suggests that SVB UK holds loans of around 5.5 billion pounds, while it has deposits of more than 6.7 billion pounds. However, Silicon Valley Bank UK’s tangible equity is calculated to stand at around 1.4 billion pounds, informed HSBC.
The collapse of Crypto friendly Silicon Valley Bank went on to put a heavy dent in the digital asset market. Bitcoin (BTC), the world’s largest crypto saw a decline on around 10% in a day. However, Bitcoin price is up by around 10% in the last 24 hours.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Aave DAO Saga Update: Majority Votes Against Token Alignment Proposal as Voting Nears End
- Trump-Linked USD1 Stablecoin Crosses $3B Market Cap After Binance Rolls Out 20% Yield
- Crypto India: Billionaire Nikhil Kamath Reveals He Holds Zero Bitcoin, Plans to Explore BTC in 2026
- Spot Bitcoin ETFs Bleed $175M as Analysts Predict BTC Price Crash to $40K
- Dormant Bitcoin Whale Awakens with $30M Profit
- Bitcoin Price on Edge as $24B Options Expire on Boxing Day — Is $80K About to Crack?
- Crypto Market Rebounds: Are Bulls Positioning for a Santa Rally?
- XRP, Bitcoin, Ethereum Price Predictions Ahead of Jan 2026 CLARITY Act and US Crypto Reserve Plans
- Pi Network Analysis: Pi Coin Price Surges on Christmas Eve, Can It Hit Year-End Highs?
- Why Dec 26th Is A Do Or Die for Bitcoin Price Ahead Of Record Options Expiry?
- Why Bitcoin, Ethereum And XRP Prices Are Down Today? (24 Dec)
