.bgarlinghouse reassured investors that the company's day-to-day business would not be disrupted despite having some exposure to SVB
The Ripple CEO hopes to have more details soon and assures investors that Ripple remains in a strong financial position.
The response from the community was mixed, with some thanking Garlinghouse for the update and expressing their admiration for Ripple's resilience in the face of adversity. However, some community members were concerned about the amount of money Ripple had held with SVB, with one user describing it as a"significant amount of money.", the price of Bitcoin spiked to an intraday high of $21,605 on the Bitstamp exchange amid reports that US officials are considering protecting all deposits at Silicon Valley Bank, following its sudden collapse, which has led to panic in the technology industry.
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Ripple CEO assures ‘strong financial position’ despite SVB collapseBrad Garlinghouse, CEO of Ripple, the issuer of XRP, said on Twitter that the company’s day-to-day operations were unaffected by the collapse of Silicon Valley Bank.
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JPMorgan, PNC among suitors for SVB Financial in deal excluding SVB Bank - AxiosJPMorgan Chase & Co and PNC Financial Service Group Inc are among those in talks about acquiring SVB Financial Group in a deal that would exclude its commercial banking unit Silicon Valley Bank that is currently under U.S. control, Axios reported on Monday citing sources.
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Ripple's CTO Guarantees Update on SVB Exposure: DetailsRipple's CTO assures clarity on SVB exposure with imminent statement XRPArmy RippleXRP $XRP XRPCommunity XRPHolders
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What SVB's CEO said just last weekSilicon Valley Bank CEO and president Greg Becker was interviewed on stage at the annual Upfront Summit in Los Angeles, by The Information reporter Kate Clark. Here's what he said when asked about the simmering concerns.
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SVB: CEO works to fund more than $1 billion in loans for startupsA fintech CEO is trying to raise more than $1 billion to fund bridge loans for startups impacted by the Silicon Valley Bank collapse
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Ripple Had ‘Some Exposure’ to Silicon Valley Bank, Says CEORipple CEO Brad Garlinghouse said the company had “some exposure” to Silicon Valley Bank but remains “strong.” realDannyNelson reports
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