Fifteen years after being voted the best bank in the United States, the popularity of Silicon Valley Bank (SVB) has fallen sharply.

SVB and its parent company, SVB Financial Group, have been relatively highly valued because they provide services to companies in a variety of industries, from technology and venture capital firms to private equity customers.

SVB has been named the best bank in America this year by Forbes for the fifth year in a row, and its head office celebrated that on Twitter a few weeks before the closure of the FDIC on March 10th.

SVB Financial deleted the Twitter account after the California Department of Financial maintenance and Innovation ordered SVB Financial to close the account.

This adverse effect has had an immediate and destabilizing impact on the wider cryptocurrency ecosystem, as stable currency publisher Circle has a $3.3 billion USDC reserve in the institution. As a result, USDC is pegged to the dollar mark, but since then, according to the Fiat car-based peg to the dollar, the dollar has returned to an affordable level.

About: our countryBan Ki-moon promised to blame the person responsible for the SVB and signed the defeat.

Forbes' message reflects the main performance of SVB Financial's share price over the past five years. SIVB struggled between about $325 and a peak of $136 between 2018 and the end of 2020. Then it hit a peak of about $759 at the end of 2021, followed by a slow and steady decline in a wider range of cryptocurrencies and traditional channels.

After the closure of SVB, SIVB shares have fallen to the bottom of $100.

William Quigley, founder of Tether, shared its views with Cointelegraph after SVB closed on Sunday. Quigley is also a former venture capitalist with more than 10 years of experience as a certified public accountant in failed financial institutions.

According to Quigley, according to federal mobile phone reports, the US Treasury has known since December 2022 that SVB will not be able to repay all depositors.

"the Ministry of Finance once again allows SVB to operate and digest and absorb a large number of savers' funds, although SVB's fixed capital has shrunk again as a result of interest rate hikes."

Quigley also mentioned that SVB debt was rated AA by S & P, a federal regulatory statistical analysis credit rating agency, and received a clean audit report from KPMG, a financial audit firm licensed by federal oversight and district governments, three weeks ago.