Silicon Valley Bank (SVB), which ranked 16th in the list of the largest American banks, was declared bankrupt last week in the United States. Its collapse was the largest bankruptcy of a financial institution since the 2008 crisis. President Biden, in this regard, felt it necessary to address the nation and assure bank depositors that the country's financial system was safe.
The bankruptcy of SVB could affect Identity Digital (formerly Donuts), which is a large registry operating hundreds of new generic top-level domains. The fact is that she is one of the clients of SVB. To be true, registry representatives have already informed registrar companies that the events will affect the activities of Identity Digital only to a minimal extent, and the company will do everything to fulfill its obligations to customers and partners without failures and delays. However, it is known that Identity Digital turned to partners with a request to temporarily switch to a cash form of payment. In this regard, Domain Incite reports that in 2017 the company (then called Donuts) received a $110 million loan from SVB.
