The Silicon Valley Bank has served as a huge bridge to China and Chinese tech engineers. Is this why the corrupt Biden Gang is bailing it out?
Just this morning the US House reported that they have the goods on the Bidens’ corrupt and criminal actions with China. The Bidens are in bed with the corrupt China regime and the House has the evidence. The Bidens were receiving money from the CCP.
Related to this is the failing Silicon Valley Bank which provides massive amounts of funding to the China venture capital sector. The South China Morning Post noted the bridge between the bank and China.
The collapse of Silicon Valley Bank (SVB) has created a sense of panic within China’s tech start-up and venture capital (VC) sector, as the lender served as a bridge between US capital and Chinese tech entrepreneurs.
As of Sunday afternoon, topics related to the collapse of the bank, including “SVB bankruptcy has spread to multiple countries” and “SVB bankruptcy affects Chinese entrepreneurs”, were trending on Chinese microblogging site Weibo, with posts receiving hundreds of millions of views.
“Is the 2008 Financial Crisis happening again?” said a Weibo user with the handle MaxC.
China is the second largest venture capital market and SVB was right in the middle of it according to Tech Crunch.
China, the world’s second-largest venture capital market. Across social media platforms, investors and startups are rushing to share news articles on the fiasco and thoughts on how to prevent such a catastrophic moment. For some companies, however, the impact is tangible.
When China was still new to venture capital in the late 1990s, SVB was among the first financial institutions to start serving the country’s startups, while traditional, risk-averse banks avoided them. Over time, the bank has become a popular option for China-based startups fundraising in USD as well as some China-focused USD venture capital firms.
Late today it was reported that the Biden regime is going to have its FDIC and Federal Reserve make good on all deposits in the bank – a significant portion of which are China-owned accounts.
To summarize, the Bidens are in the tank with China, SVD has a significant amount of capital invested with Chinese ventures, and the Biden Administration will make sure none of the Chinese companies lose money.
BIDEN IS NOT WORKING FOR AMERICA – HE’S WORKING FOR CHINA!
The post OUTRAGEOUS: Silicon Valley Bank Provided Massive Amounts of Capital to Chinese Tech Ventures – Now Biden FDIC and Federal Reserve Are Bailing It Out – Clearly Biden Is Working for China appeared first on The Gateway Pundit.