One Twitter user backed Musk's idea, saying "what an opportunity," but another called Sanjay responded: "And sell another $20 billion worth of $Tesla stock. No thanks!"
Silicon Valley Bank was shut down on Friday by US regulators following a run on deposits, Insider's Sindhu Sundar explained. Startup founders moved to withdraw funds on Thursday, rattled by the bank's falling stock price that followed a capital raising announced on Wednesday night.
The bank is now being handled by receivers, potentially delaying access to deposits for a considerable period of time. Some hope that a buyer will come forward this weekend to avoid such a scenario.