|
March 11, 2023, 11:15 AM
|
Mediagazer
memeorandum
WeSmirchTop News
| Frank Chaparro / The Block: |
Circle says $3.3B of ~$40B USDC reserves remain at Silicon Valley Bank and it will follow guidance provided by state and federal regulators — - After being largely silent on Friday, Circle said it has $3.3 billion in exposure to Silicon Valley Bank, which collapsed earlier in the day and was placed in FDIC receivership.
More:
CoinDesk, Cointelegraph, Metaverse Post, Wu Blockchain, CoinGape, NewsBTC, ZyCrypto, Coinpedia Fintech News, and Coinmonks
Tweets:
@circle, @binance, @circle, @unusual_whales, @cryptowendyo, @edzitron, @asvanevik, and @michaeljordaan
| Bloomberg: |
Coinbase says it is “temporarily pausing” conversions of USDC into USD during the weekend; USDC traded at ~$0.90 as investors reacted to Circle's SVB exposure — The second-largest stablecoin in crypto fell from its intended $1 peg on Saturday, trading as low as 81.5 cents … | Krisztian Sandor / CoinDesk: |
Circle's USDC sees $1B in net redemptions since SVB's shutdown and has lost its $1 peg, after Circle said SVB is one of six banks managing USDC cash reserves — Stablecoin issuer Circle held an undisclosed amount of USDC's cash reserves at now-failed Silicon Valley Bank.
More:
TechCrunch, Bloomberg, Fortune, Crypto Daily, CoinGape, CryptoGlobe, Bitcoinist.com, Cryptopolitan, Artemis Big Fundamentals …, Slashdot, and Watcher Guru
Tweets:
@circle, @adamscochran, @0xfoobar, @1markmoss, @silvermanjacob, @smtuffy, @northrocklp, @autismcapital, @epro, @mikeburgersburg, @alice_comfy, and @chainlinkgod
| TechCrunch: |
How startup founders are reacting to Silicon Valley Bank's collapse, as some worry about frozen funds, operating expenses, and paying employees full salaries — Engineers at Polymath Robotics were working late Wednesday night on multiple projects when co-founder and CEO Stefan Seltz-Axmacher noticed chatter …
More:
Bloomberg, The Information, Insider, CNBC, U.S. Department …, Axios, TechCrunch, CNBC, The Information, and Forbes
| Todd Spangler / Variety: |
Filing: Roku held $487M, or ~26% of its $1.9B in cash and equivalents, at SVB, “largely uninsured”, and says the $1.4B left “will be sufficient” for 12+ months — About one-fourth of Roku's cash and equivalents — nearly half a billion dollars …
More:
SEC.gov, CNBC, Insider, CNN, Bill, Engadget, Deadline, and Mercury News
Tweets:
@mollypriddy, @stephennellis, @xpangler, @devincow, @adamblevine, and @mikeisaac
| Sarah Wynn / The Block: |
Filing: crypto lender BlockFi, which filed for bankruptcy protection in November 2022, has $227M in uninsured funds in Silicon Valley Bank — - Crypto lender Blockfi has millions in uninsured funds because the cash is a money market mutual fund, according to a bankruptcy document filed on Friday.
More:
Cryptonews, crypto.news, and Global Community Weekly
Tweets:
@laurenshirsch, @frances_coppola, @justafamilyman_, and @bowtiedbull
| Sarah Perez / TechCrunch: |
Roblox and other companies disclose their exposure to SVB in SEC filings; Roblox says ~5% of its $3B cash and securities balance was held at SVB as of Feb. 28 — The fallout from the collapse of Silicon Valley Bank is impacting a range of startups and larger firms including …
More:
The Information, TechPowerUp, and Philip Elmer‑DeWitt
| Dan Primack / Axios: |
More:
Financial Times and Exit Fuel 🛢️
| Matt Levine / Bloomberg: |
As the “Bank of Startups”, Silicon Valley Bank collapsed from its exposure to interest-rate risk, a lack of diversity among depositors, and VC herd mentality — Programming note: Money Stuff was supposed to be off today, but: bank run! — SVB
More:
Sifted, CNBC, CNN, Fortune, Financial Times, BBC, The Information, The Economist, Reuters, Wall Street Journal, Vox, Washington Post, Inc42 Media, CoinGape, The Economic Times, TechSpot, Livemint, Andrew's Substack, Silicon Canals, and Noahpinion
Tweets:
@billackman, @htaneja, @garrytan, @altcap, @garrytan, @gaberivera, @samirkaji, @davidsirota, @fttechnews, @gilbertjasono, @eisingerj, @mattocko, @darrenpjones, @bobeunlimited, @alex_kirshner, @thebenbergman, @jbarro, @jessicalessin, @carlquintanilla, @autismcapital, @menlobear, @stilichoreads, @vinnylingham, @thestalwart, @trengriffin, @amtvmedia, @mckonomy, @dicktofel, @amazzara1, @moorehn, @momblogger, @drdenagrayson, @dancow, @pkafka, @gergelyorosz, @taylorlorenz, @alistairmbarr, @mattrosoff, @rakeshlobster, @mckonomy, @annmlipton, @silviakillings, and @walthickey
| Austin Weinstein / Bloomberg: |
Filing: investors and depositors tried to pull $42B from SVB on March 9; the bank had a $958M negative cash balance on March 9, per a taking possession order — Investors and depositors tried to pull $42 billion from Silicon Valley Bank on Thursday in one of the biggest US bank runs in more than a decade … | Marc Rubinstein / Net Interest: |
More:
Financial Times, Nongaap Investing, Louder Vic!, and Bloomberg
| CNBC: |
More:
FDIC, Wall Street Journal, New York Times, The Lever, Bloomberg, Bank of England, The i Paper, Blockworks, Financial Times, Fortune, Associated Press, CoinDesk, The Wrap, ZeroHedge, CNBC, Coinpedia Fintech News, TechCrunch, Financial Times, The Information, Dr. Hans Substack, Los Angeles Times, Sifted, The Verge, Raising the Bar, and JAG Capital Partners …
Mastodon:
@briankrebs@infosec.exchange and @kkomaitis@techpolicy.social
Tweets:
@parkerconrad, @repswalwell, @grdecter, @bhargreaves, @bhargreaves, @roshanpatei, @lulumeservey, @fdicgov, @thestalwart, @tier10k, @unusual_whales, @tier10k, @robblackwellab, @ericnewcomer, @davidsirota, @cramertracker, @apatelthompson, @alistairmbarr, @oneunderscore__, @balajis, @nikitabier, @garrytan, @alexandrascaggs, @wallstcynic, @justinwolfers, @zerohedge, @shaig, @thetranscript_, @davidsirota, @ellebeyoud, @cz_binance, @alexrkonrad, @xenollamas, @watcherguru, @brendanpedersen, @sama, @ericnewcomer, @tracyalloway, @dancow, @nytimesbusiness, @jeffjohnroberts, @jsrailton, @bendwalsh, @jasonzweigwsj, @unusual_whales, @eve6, @bondhack, @autismcapital, @espiers, @davidfrum, @mollyjongfast, @katienotopoulos, @jeffbercovici, @cryptadamist, @buccocapital, @danprimack, @twobitidiot, @teroterotero, @zachweinberg, @alistairmbarr, @amir, @jessicalessin, @taylorlorenz, @brendanpedersen, @business, @modestproposal1, @mikeisaac, @erikvoorhees, @cate_long, @karlbode, @charlesarthur, @maxkennerly, @kevinyun, @kendrawrites, @anthony, @lexnfx, @decloet, @josephpolitano, @lulumeservey, @antoniogm, @twobitidiot, @goldman, @anthony, @max_fisher, @pkedrosky, @sifill_, @nycjim, @bhargreaves, @asanwal, @immad, @jamestitcomb, @ellenhuet, @sruhle, @regulatorynerd, @cloud_opinion, @ericnewcomer, @fvogelstein, @jp_koning, @taylorlorenz, @mikeisaac, @bhargreaves, @jamesgrickards, @johnpaczkowski, @mikebutcher, @jgreco, @cfarivar, @nickatfp, @justinwolfers, @onebandwagonfan, @justinwolfers, @andrewyang, @scobleizer, @sarthakgh, @applehelix, @jordanschachtel, @brendanpedersen, @jamespmcleod, @acityinohio, @stevenkelly49, @bamabonds, @parkerconrad, @danprimack, @lifescivc, @thebondfreak, @gunjanjs, @52kskew, @donmiami3, @byclairew, @wideofthepost, @hhorsley, @thresh, @smtuffy, @bucknsf, @litcapital, @brianroemmele, @jcoviedo6, @parikpatelcfa, @jasondebolt, @seawolfcap, @thetranscript_, @pinboard, @edzitron, @shaig, @eperlste, @jason, @davetroy, @adamscochran, @adamscochran, @jonwu_, @bhargreaves, @grdecter, @luke_metro, @iwriteok, @flying_mom, @functi0nzer0, @thebondfreak, @kiarichards_, @zosegal, @adamscochran, @chriscamillo, @packym, @jamesclayton5, @jenwieczner, @bhargreaves, @growing_daniel, @lopp, @shaig, @elidourado, @dkthomp, @sullycnbc, @0xc0le, @arlanwashere, @fdicgov, @chopracfpb, @oxdeadbeef_, @nickadobos, @heylizelle, @arrington, @adamscochran, @pt, @modestproposal1, @scobleizer, @msuster, @msuster, @kashhill, @cjc, @stshank, @ciovaccocapital, @jeffreyatucker, @business, @nicoleperlroth, @luke_broyles, @deepakshenoy, @hannahdlang, @caro, @schuldensuehner, @dkthomp, @karenpetrou, @balajis, @marietjeschaake, @amitranjan, and @carnage4life
| Lorenzo Franceschi-Bicchierai / TechCrunch: |
How the FBI proved that NetWire was a Remote Access Trojan and not a legitimate remote admin tool, leading to the seizure of the website selling the malware — On Thursday, the U.S. government announced that it had seized a website used to sell malware designed to spy on computers and cellphones.
More:
Krebs on Security, Department of Justice, and SecurityWeek
Tweets:
@lorenzofb, @patrickwardle, and @malwarejake
| Giovanni Colantonio / Digital Trends: |
ChatGPT seems to have plagiarized at least one mobile game to “invent” a game called Sumplete, after being prompted to create a Sudoku-like puzzle — ChatGPT can add another job to its résumé: game developer. With just a few simple prompts from a user …
More:
Sumplete, Puzzled's Substack, Gizmodo, and Insider
Tweets:
@marioprime, @tomchivers, @andrewmartonik, @marioprime, @dannyrichman, @marcosbl, and @psythor
| James Vincent / The Verge: |
LinkedIn's decision to start publishing “AI-powered conversation starters” to provoke discussions is a milestone and may herald semiautomated social networks — It makes sense that LinkedIn would be the first major social network to push AI-generated content on its users.
More:
gHacks Technology News. Tweets:
@adamsinger, @marywareham, @carnage4life, @jjvincent, and @jonlamart
Sponsor Posts
Niantic Spatial:
World models need real-world data — Scaniverse is the gateway to spatial services — self-serve and built for AI and robotics. Large-area 3D reconstruction from 360° cameras and precise localization, anywhere machines operate.
World models need real-world data — Scaniverse is the gateway to spatial services — self-serve and built for AI and robotics. Large-area 3D reconstruction from 360° cameras and precise localization, anywhere machines operate.
Zoho:
Introducing Sales Tax Automation for US & Canadian businesses — Sales tax management can become easily complicated for growing businesses. In countries like the United States and Canada, tax rates vary across states, provinces, counties, and cities.
Introducing Sales Tax Automation for US & Canadian businesses — Sales tax management can become easily complicated for growing businesses. In countries like the United States and Canada, tax rates vary across states, provinces, counties, and cities.
IDrive:
Protecting your Cloud Applications Data — Backing up Office 365, Google Workspace, Dropbox & Salesforce data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.
Protecting your Cloud Applications Data — Backing up Office 365, Google Workspace, Dropbox & Salesforce data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.
Anuma:
The Private AI That Remembers — Anuma is the all-in-one AI platform with private, portable memory. Chat, text, create, build, and solve across every model.
The Private AI That Remembers — Anuma is the all-in-one AI platform with private, portable memory. Chat, text, create, build, and solve across every model.Featured Podcasts
The Social Radars:
Ron Conway, Founder, SV Angel: Silicon Valley Bank Crisis
Come be a fly on the wall as Y Combinator's Jessica Livingston and Carolynn Levy talk to some of the most successful founders in Silicon Valley about how they did it.
Subscribe to The Social Radars.
Invest Like the Best:
Paul Tudor Jones - Lessons From 50 Years in Markets
The leading destination to learn about business and investing. We do this by showcasing exceptional talent and ideas.
Subscribe to Invest Like the Best.
Cheeky Pint:
What comes after smartphones, with Snap CEO Evan Spiegel
Stripe cofounder John Collison interviews founders, builders, and leaders over a pint.
Subscribe to Cheeky Pint.
Lenny's Podcast:
Snapchat CEO: Why distribution has become the most important moat | Evan Spiegel
Interviews with world-class product leaders and growth experts to uncover actionable advice to help you build, launch, and grow your own product.
Subscribe to Lenny's Podcast.
Big Technology Podcast:
Apple After Tim Cook, OpenAI's New Mojo, Meta's Internal Tracking Escapade
The Big Technology Podcast takes you behind the scenes in the tech world featuring interviews with plugged-in insiders and outside agitators.
Subscribe to Big Technology Podcast.
Tools and Weapons with Brad Smith:
Ryan Roslansky: Turning AI Anxiety into Skills for the Future of Work
Microsoft Vice Chair and President Brad Smith speaks with leaders in government, business, and culture to explore the most critical challenges at the intersection of technology and society.
Subscribe to Tools and Weapons with Brad Smith.
About This Page
This is a Techmeme archive page. It shows how the site appeared at 11:15 AM ET, March 11, 2023.
The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.
From Mediagazer
David Shepardson / Reuters:Peter Kafka / Business Insider:
Sara Fischer / Axios:
Upcoming Tech Events
Earlier Picks
| Chris Stokel-Walker / Wired: |
More:
BetaNews. Tweets:
@marshallk, @sparklingruby, @pbjost, @chrismessina, @_subnet, @marshallk, @gusthema, @wearytolove, @epro, @viditb, @0mgould, @ryanmaue, and @stokel. Thanks:@stokel
| Casey Newton / Platformer: |
More:
Washington Post and Techdirt
Mastodon:
@Gargron@mastodon.social and @mike@flipboard.social
Tweets:
@deepsekharc, @deepsekharc, @epro, and @chafkin