March 11 – BLiTZ. One of the largest banks in the US Silicon Valley went bankrupt. California Department of Financial Protection informed about it.

The bankruptcy of such a major player occurred for the first time since the financial crisis of 2008. The lender went bankrupt in less than two days. It is reported that the bank made an unsuccessful transaction with securities. To make up for the losses, the company announced its intention to issue $2.25 billion worth of shares.

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Against the background of active withdrawal of money by depositors, there was a sharp drop in liquidity. The outflow of funds accelerated so much that the organization declared bankruptcy.