Monday, March 13, 2023

 this must be a coincidence as it couldn't be any sort of advance knowledge as that would be criminal;


The Times of Israel reports that israeli firms were able to transfer $1 billion from Silicon Valley Bank (SVB) to Israeli accounts before the bank was seized:

“Israel’s two largest banks, Bank Leumi and Bank Hapoalim, set up a situation room that has been operating around the clock to help firms transfer their money from SVB — before it was seized — to accounts in Israel. Over the past few days, teams at LeumiTech, the high-tech banking arm of Bank Leumi, have been able to help their Israeli clients transfer about $1 billion to Israel, the bank said.

SVB, the “go-to lender of technology startups in Israel and the US,” failed “after depositors hurried to withdraw money last week amid anxiety over its health.”

It was the second-biggest bank failure in US history.

More information here ........more........

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