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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.
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, the HSBC holdings stated that it has paid a purchase price of £1 as part of the transaction.
(THIS IS A DEVELOPING STORY)
The post Breaking: HSBC Buys Out Troubled Silicon Valley Bank UK appeared first on CoinGape.
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