Upon confirmation of the bankruptcy of Silicon Valley Bank, the most important bank for ventures and startups in the Western Hemisphere, the funds of hundreds of companies were frozen and will now be operated by the United States government. That decision affected some Colombian companies and companies around the world.

This is the case of Torre, a conglomerate of Colombian ventures that is managed by Alexander Torrenegra, and that was affected by the closure of Silicon Valley Bank.

One of the sharks of ‘Shark Tank’ Torrenegra reported on Twitter how the unexpected closure of the US bank affected the finances of his ventures, but also all his savings. Other owners of ventures such as Torregenome, Torrepro and Torreagile, among others, also indicated that two of their ventures were particularly affected.

Torrenegra added that he had to take several steps to get the funds from two of his ventures, but he concluded that he could not move the money from his personal savings.

Torrenegra pointed out in that social network, “Unfortunately, for our personal savings, only a part is safe. We can recover most of the money. The percentage, however, remains unclear. It can take years.”

The Colombian entrepreneur left a reflection on how it is impossible to predict the markets and even they, experts in the field, can be hit by big financial decisions.

Torrenegra stated on that platform, “We should not spend too much time thinking about this or trying to predict the markets. It is time to return to what we can control: the execution of our companies”.

The entrepreneur with affected Colombian company

The business trainer and entrepreneur Torrenegra, 44 years old, born in Bogotá, who has built a series of important ventures based in the United States. He has become one of the most recognized Colombian businessmen and has come to attract the attention of investors and even politicians from different countries.

In 2013, he met with then US President Barack Obama. Since 2017, Torrenegra has been one of the sharks of ‘Shark Tank’, a program that stimulates and invests in nascent ventures in the country.

Just as important financial and banking sectors around the world have gone bankrupt, economic recovery is difficult and can take a long time leading to financial decisions that are difficult to solve. In this way, many ventures, companies and individuals have sought new alternatives that can protect the finances of their ventures and their savings, such as Etniobank, a decentralized bank that ensures funds, offering alternatives for each financial decision of each person or entity, facilitating that each client obtains great benefits and security in each banking process and movement that is required.

With Etniobank there are services such as deposits, withdrawals, currency exchange, bank transfers, money transfers, payment requests, loans, fixed-term deposits, programmed deposits and others such as gift cards.

In addition to being a decentralized bank, Etniobank gives you the option of belonging to a business investment group, making your finances grow much more, advised by the best specialists, ensuring your future and that of your company.

Published by The Tampa Herald, news and information agency

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