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March 10, 2023, 3:25 PM
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WeSmirchTop News
| CNBC: |
California regulators close SVB and name the FDIC as the receiver to protect insured deposits; SVB ended 2022 with ~$209B in assets and $175.4B in deposits — This is breaking news. Please check back for updates.
More:
FDIC, The Department …, Bloomberg, Sifted, Wall Street Journal, New York Times, Associated Press, CoinDesk, TechCrunch, Bloomberg, The Verge, TechCrunch, BetaKit, Sifted, Newcomer, Finextra, Globe and Mail, Bloomberg, Decrypt, PYMNTS.com, UKTN, Heretic Speculator, Forbes, Ethereum World News, Axios, WRAL TechWire, Newser, Fortune, Investor's Business Daily, and Financial Times
LinkedIn:
Arjun Sethi, John Stepek, Eunice Ajim, Sahil Mansuri, Amy Lewin, and Kristina Hooper
Mastodon:
@downey@floss.social and @ukuku@mstdn.social
Tweets:
@bhargreaves, @bhargreaves, @parkerconrad, @thestalwart, @fdicgov, @lulumeservey, @cramertracker, @grdecter, @tier10k, @garrytan, @unusual_whales, @nikitabier, @wallstcynic, @roshanpatei, @robblackwellab, @thetranscript_, @ellebeyoud, @jamestitcomb, @cz_binance, @ellenhuet, @sruhle, @regulatorynerd, @cloud_opinion, @ericnewcomer, @fvogelstein, @alexrkonrad, @jp_koning, @alexandrascaggs, @taylorlorenz, @kevinyun, @mikeisaac, @jamesgrickards, @immad, @watcherguru, @johnpaczkowski, @mikebutcher, @jgreco, @cfarivar, @nickatfp, @justinwolfers, @onebandwagonfan, @justinwolfers, @justinwolfers, @andrewyang, @scobleizer, @sarthakgh, @applehelix, @jordanschachtel, @brendanpedersen, @jamespmcleod, @acityinohio, @stevenkelly49, @bamabonds, @parkerconrad, @danprimack, @repswalwell, @lifescivc, @thebondfreak, @gunjanjs, @52kskew, @donmiami3, @byclairew, @wideofthepost, @hhorsley, @thresh, @smtuffy, @bucknsf, @litcapital, @brianroemmele, @zerohedge, @jcoviedo6, @parikpatelcfa, @jasondebolt, @seawolfcap, @thetranscript_, @pinboard, @edzitron, @shaig, @eperlste, @jason, @davetroy, @adamscochran, @adamscochran, @bhargreaves, @jonwu_, @bhargreaves, @grdecter, @luke_metro, @bhargreaves, @iwriteok, @flying_mom, @functi0nzer0, @thebondfreak, @kiarichards_, @zosegal, @adamscochran, @chriscamillo, @packym, @jamesclayton5, @jenwieczner, @bhargreaves, @growing_daniel, @lopp, @shaig, @elidourado, @dkthomp, @sullycnbc, @0xc0le, @arlanwashere, @lulumeservey, @fdicgov, @chopracfpb, @oxdeadbeef_, @nickadobos, @heylizelle, @arrington, @nmasc_, @ericnewcomer, @adamscochran, @pt, @modestproposal1, @sama, @scobleizer, @msuster, @msuster, @kashhill, @cjc, @stshank, @ciovaccocapital, @jeffreyatucker, @business, @nicoleperlroth, @luke_broyles, @deepakshenoy, @hannahdlang, @caro, @schuldensuehner, @dkthomp, @karenpetrou, @balajis, @brendanpedersen, @marietjeschaake, @amitranjan, @carnage4life, @lulumeservey, @edzitron, @hugh_son, @amir, @kgreifeld, @ow, @pitdesi, @bigblackjacobin, @semil, @mvpeers, @shonaghosh, @film_girl, @startupljackson, @josh_young_1, @rickasaurus, @tier10k, @film_girl, @thestalwart, @jessicalessin, @danprimack, @dnak, @ruima, @kateclarktweets, @californiadfpi, @macconwell, @rafat, @etxeba, @pinboard, @kateclarktweets, and @eug_ng
| Jesse Pound / CNBC: |
Sources: Silicon Valley Bank parent company SVB Financial fails to find a buyer as a bank run outpaced the sales process, after SVB failed to raise $2.25B — SVB Financial , parent of Silicon Valley Bank, is in talks to sell itself, sources told CNBC's David Faber.
More:
CoinDesk, The Information, Newcomer, CNBC, The Economic Times, TechCrunch, PYMNTS.com, VICE, Bloomberg, Silicon Valley Business …, Finextra, The Verge, Tech.eu, Inc42 Media, Insider, Crunchbase News, New York Post, CryptoPotato, Crypto Briefing, Fortune, Bitcoin News, CoinGape, NBC Bay Area, and WRAL TechWire
Tweets:
@jyarow, @danprimack, @slate_akita, @jonwu_, @anthony, @bobbrinker, @lopezlinette, @peteryared, @business, @danprimack, @silviakillings, @robinwigg, and @mvpeers
| Financial Times: |
Silicon Valley Bank launches a $2.25B share sale after losing ~$1.8B on its ~$21B of US Treasuries and mortgage-backed securities — Technology-focused lender suffered loss on $21bn portfolio of Treasuries and mortgage-backed securities — Silicon Valley Bank has launched a $2.25bn share sale …
More:
Bloomberg, SVB Financial Group, Reuters, Wall Street Journal, Wall Street Journal, The Information, Bloomberg, TechCrunch, The Information, CoinDesk, The Verge, New York Post, New York Times, MARK MCQUEEN'S BLOG, Sifted, PYMNTS.com, Quartz, Cointelegraph, Decrypt, BBC, TechCrunch, Axios, Financial Times, NBC News, Bloomberg, Coinspeaker, Kiiski's Newsletter, and Coinspeaker
Tweets:
@billackman, @thebenbergman, @howard, @sullycnbc, @bobeunlimited, @nmasc_, @business, @danprimack, @grdecter, @msuster, @gunjanjs, @deitaone, @thestalwart, @econderek, @pitdesi, @parikpatelcfa, @pkedrosky, @alexlmiller, @amir, @jamiequint, @thetranscript_, @johnhenrystyle, @itstarh, @gunjanjs, @tier10k, @anthony, @grandtokamak, @amir, @pitdesi, @juroosawa, @leoringer, @frognews, @levie, @caitlinlong_, @jackiereses, @danprimack, @anandwrites, @rafat, @nomiprins, @chrismessina, @nabeel, and @mayhem4markets
| Marc Rubinstein / Net Interest: |
A closer look at the collapse of Silicon Valley Bank, the 16th largest US bank whose unrealized losses snowballed from $0 in June 2021 to $16B by September 2022 — The Rapid Collapse of the 16th Largest Bank in America — “When you're not working, what do you do to de-stress?”
More:
Financial Times, PYMNTS.com, Los Angeles Times, Forbes, CoinGape, and Market Economy's Substack
Tweets:
@mikeisaac and @mikeisaac
| Lizette Chapman / Bloomberg: |
Email: VC firm Greenoaks warned its founders of potential problems at Silicon Valley Bank in November 2022; a source says 12+ portfolio startups withdrew ~$1B — Venture investment firm Greenoaks Capital Partners warned its startup founders of potential problems at SVB Financial Group's Silicon Valley Bank …
More:
CNN, Livemint, CNBC, The Economic Times, GeekWire, Semafor, Technical.ly, New York Times, Inc42 Media, Stock Quest, Tech in Asia, Finextra, Moneycontrol, and Tech Startups
Tweets:
@robinwigg, @fedguy12, @denniskelleher, @fedguy12, @0xfbifemboy, @fedguy12, @du09btc, @jamespmcleod, @ferrotv, @somospostpc, @thetranscript_, @alex, and @ukarlewitz
| Casey Newton / Platformer: |
Meta is exploring a standalone decentralized social network for sharing text updates; the app, codenamed P92, will reportedly let users log in with Instagram — Is this the Twitter replacement we've been waiting for? … Twitter's decline is paving the way for other platforms to build next-generation replacements.
More:
Moneycontrol, BBC, TechCrunch, Reuters, ZDNet, CNN, PCMag, Engadget, SiliconANGLE, Social Media Today, Observer, ToolsForCrypto's Newsletter, SlashGear, CoinDesk, Tech Xplore, Techdirt, Thurrott, Gizmodo, CNBC, Neowin, Coinspeaker, Coinmonks, gHacks Technology News, Cryptopolitan, crypto.news, Tech.co, Cointelegraph, Silicon Republic, and Watcher Guru
Mastodon:
@matt@isfeeling.social. Tweets:
@epro, @chafkin, @defnotbeka, @garethlpowell, @banklesshq, @sriramk, @nydoorman, @stillgray, @originalspin, @giancarlochaux, @ignactro, @producthunt, @mgsiegler, and @fryan
| Filipe Espósito / 9to5Mac: |
Kuo: Apple plans to unveil a redesigned HomePod with a built-in 7-inch display in H1 2024, enabling tighter integration with Apple's other hardware products — Apple this year introduced a new HomePod that looks exactly like the original model announced in 2017 and discontinued in 2021.| Carly Page / TechCrunch: |
Cloud software company Blackbaud to pay $3M to settle SEC charges that it made “misleading disclosures” about a 2020 ransomware attack affecting 13K+ customers — Software house Blackbaud has agreed to pay $3 million to settle charges related to a May 2020 ransomware attack …
More:
U.S. Securities …, BleepingComputer, The Record, Cybersecurity Dive, HealthcareInfoSecurity.com, and SecurityWeek. Tweets:
@agtoddrokita
| Arjun Kharpal / CNBC: |
Bitcoin falls ~8% to ~$19,900, a near two-month low, and ether falls 8%+ to ~$1,400, after US stocks drop and Silvergate Capital and Silicon Valley Bank implode — - Bitcoin fell below $20,000 on Friday hitting a near-two month low after a stock market sell-off in the U.S.
More:
Washington Post, PYMNTS.com, CoinDesk, Cointelegraph, and Tech Startups
Tweets:
@ap_abacus, @wublockchain, @carnage4life, and @smtuffy
| Dan Primack / Axios: |
The FDIC says SVB clients with deposits above $250K will get “an advance dividend within the next week”; many SVB clients need to meet their payroll on March 15 — The U.S. government on Friday assumed control of Silicon Valley Bank and its billions of dollars in customer deposits …
More:
Silicon Valley Business …, Bitcoin News, NBC Bay Area, and Crowdfund Insider
Tweets:
@carnage4life, @rabble, and @axios
| Financial Times: |
Some German states are reviewing police use of Palantir's tech after a court ruled laws on data mining by police were too broad and infringe on personal privacy — US data group seeking government contracts In Europe faces pushback over privacy concerns — German states are rethinking …
Tweets:
@laurapitel and @karolcummins
| Financial Times: |
Sources: after lobbying by Apple, Foxconn, and others, India's Karnataka state now allows two-shift production and 12-hour shifts, similar to practices in China — Lobbying in Karnataka leads to landmark legislation that anticipates iPhone production in southern state
More:
Gadget Tendency, DigiTimes, iPhone in Canada Blog, 9to5Mac, Ars Technica, AppleInsider, MacDailyNews, and iMore
Tweets:
@gokul_sahni, @markc_anderson, and @nongratadesi
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