DOJ and SEC investigate SVB collapse and insider trading, while Warren and watchdogs demand independent Fed probes.

1 min read
Source: Cointelegraph
DOJ and SEC investigate SVB collapse and insider trading, while Warren and watchdogs demand independent Fed probes.
Photo: Cointelegraph
TL;DR Summary

The US Department of Justice and the Securities and Exchange Commission are reportedly investigating the collapse of Silicon Valley Bank (SVB) and the stock sales made by its executives before its closure. SVB's CEO and CFO sold shares two weeks before the bank's failure, sparking outrage from some observers. The probes are in the early stages and may not lead to charges or allegations of wrongdoing. The US Federal Reserve is also looking into the bank's collapse and how it supervised and regulated the now-collapsed financial institution.

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