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Goldman Sachs under fire over SVB collapse

By Yugocean | Business Champion | 19 Mar 2023

The Collapse of Silicon Valley Bank (SVB) is one of the debacle in the financial history of US.  Bitcoin was not surprisingly got first blame, but later it was revealed that another US business Goldman Sachs is the top suspect in SVB collapse.

Why Goldman Sachs is Blamed?

Goldman Sachs' purchase of SVB's bonds at loss of SVB, which is thought to be the cause of SVB's downfall. Congressman Adam Schiff, along with several other lawmakers, has written to the US authorities—the Department of Justice, the Securities and Exchange Commission, and the Federal Deposit Insurance Corporation—urging them to investigate Goldman Sachs' role in the collapse of SVB.


Market is Hit

The Goldman Sachs market has also fallen after being accused of the collapse of SVB. No official statement has come from the company, which might put pressure on it. Not only Goldman Sachs, but others like Citygroup, JP Morgan Chase, Morgan Stanley, Wells Fargo, Capital one  etc all are hit.

The Innocent Bitcoin 

Goldman Sachs is responsible or not, this will be only revealed later, but Bitcoin is Not Guilty. Bitcoin is getting into situation of 2008, and it is playing it's time. 

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