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March 12, 2023, 12:25 AM
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memeorandum
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| Bloomberg: |
Sources: the FDIC is racing to sell SVB's assets and make 30% to 50% or more of clients' uninsured deposits available as soon as Monday — US regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion of clients' uninsured deposits available …
More:
The Block, Mercury News, The Hill, Insider, CNBC, and NewsBTC
Mastodon:
@lcamtuf@infosec.exchange. Tweets:
@mittromney, @carnage4life, @ellebeyoud, @davemcclure, @yoda, and @bijans
| Semafor: |
Sources: some hedge funds are offering to buy startups' deposits at SVB for 60 to 80 cents on the dollar; Filing: ~96% of deposits as of Dec. 31 were uninsured — Hedge funds are offering to buy startups' deposits stranded at Silicon Valley Bank for as little as 60 cents on the dollar …
More:
The Information, Reuters, Bitcoin News, and Bloomberg
Mastodon:
@chockenberry@mastodon.social and @DataDrivenMD@fedified.com
| Bloomberg: |
SVB draws support from 300+ VC firms, including General Catalyst, while 1,200+ founders and CEOs sign a Y Combinator petition asking the US Congress to act — More than 100 venture capital and investing firms have signed a statement supporting Silicon Valley Bank, part of mounting industry calls …
More:
Y Combinator Blog, TechCrunch, TechCrunch, and Insider
Tweets:
@_jeremyflores, @m2jr, @crv, @ksimm, @katie_roof, @kevinrose, @can, @paulg, @ranjanxroy, and @ronconway
| Rob Wile / NBC News: |
In an email to sellers, Etsy warns that the SVB collapse is causing delays in processing payments; one seller says it would be “catastrophic” for his business — Etsy is warning sellers that the collapse of Silicon Valley Bank on Friday is causing delays in processing payments … | Bloomberg: |
Founders fear that the collapse of SVB, which had branches in the UK, Canada, China, Germany, India, Israel, and more, could wipe out startups around the world — The fallout from the collapse of Silicon Valley Bank is beginning to spread around the world.| TechCrunch: |
More:
On my Om, New York Times, NPR, Livemint, Agence France-Presse, The Information, Bloomberg, Bloomberg, Matthew's Newsletter, Forbes, Mashable, Washington Post, GeekWire, What's Hot in Enterprise IT/VC, CNBC, Politico, and Washington Post
Mastodon:
@DataDrivenMD@fedified.com. Tweets:
@billackman, @sumukhsridhara, @ddisparte, @garrytan, @garrytan, @ericnewcomer, @fordm, @om, @rokhanna, @jenn_elias, @jenn_elias, @karaswisher, @garrytan, @modestproposal1, @rolfewinkler, @jasonfurman, @heidibraun, @nycsouthpaw, @lorenasgonzalez, @wolfejosh, @1markmoss, @nikitabier, @film_girl, @buccocapital, @pt, @stanleyroberts, @amir, @karaswisher, @om, @kateclarktweets, @semaforben, @karaswisher, @clarajeffery, @hblodget, @danprimack, @nils_gilman, @__aston__, @rolfewinkler, @howardlindzon, @aoc, @kateclarktweets, @silvermanjacob, @valaafshar, @s_mikhailovich, @livefromvr, @epsilontheory, @eliotwb, @martinsfp, @scott_wiener, @katie_roof, @kateclarktweets, @jsrailton, and @jsrailton
| New York Times: |
SVB's implosion leads to finger-pointing and factionalism, as crypto advocates blame centralized banking and investors argue crypto collapses led to the crisis — The implosion of the Silicon Valley bank led to finger-pointing, as executives and investors jumped on the crisis for their own messaging.
More:
Insider. Mastodon:
@stevetex@mastodon.social, @ncweaver@thecooltable.wtf, @guacamayan@journa.host, and @Jhorwitzz@mastodon.online
Tweets:
@moshaikhs, @berkeleylaw, @w3sobeefy, @carnage4life, @hblodget, @jossytweets, and @chasemadar
| Frank Chaparro / The Block: |
Circle says $3.3B of its ~$40B USDC reserves remain at Silicon Valley Bank and that the crypto payments firm will follow state and federal regulators' guidance — - After being largely silent on Friday, Circle said it has $3.3 billion in exposure to Silicon Valley Bank …
More:
Circle Blog, TechCrunch, The Maker Forum, Bloomberg, Decrypt, The Block, Cointelegraph, The Block, Wu Blockchain, Bitcoinist.com, CNBC, Fortune, CoinDesk, Watcher Guru, The Information, The Daily Hodl, Ethereum World News, Engadget, Bitcoin News, CryptoGlobe, Crypto Daily, Bitcoinist.com, CoinGape, and Cryptonews
Mastodon:
@jerry@infosec.exchange. Tweets:
@binance, @circle, @circle, @jerallaire, @wublockchain, @adamscochran, @kobeissiletter, @pitdesi, @allnick, @northrocklp, @mikeisaac, @wublockchain, @mariuscrypt0, @lexnfx, @ddisparte, @evgenygaevoy, @asvanevik, @unusual_whales, @michaeljordaan, @edzitron, and @cryptowendyo
| Bloomberg: |
More:
The Guardian, CoinDesk, The Block, Web3 is Going Just Great, Wall Street Journal, CryptoSlate, Wu Blockchain, Cointelegraph, PBN3's Substack, crypto.news, Ethereum World News, Watcher Guru, CoinGape, Bitcoin News, Cryptopolitan, Crowdfund Insider, Reuters, Inside Bitcoins, Cryptonews, Decrypt, NewsBTC, Decrypt, ZyCrypto, Metaverse Post, and Coinpedia Fintech News
Tweets:
@coinbase, @coinbase, @matthew_d_green, @petergyang, @simonpb, and @edzitron
| Sarah Wynn / The Block: |
More:
Bitcoinist.com, crypto.news, and Web3 is Going Just Great
Tweets:
@laurenshirsch, @justafamilyman_, @frances_coppola, and @bowtiedbull
| Gita Jackson / The Verge: |
Twitter is in decline and less stable under Elon Musk, echoing LiveJournal and Tumblr falling apart under new ownership that didn't understand their communities — Twitter is in a period of decline. The site still functions, people are still using it, but there's a familiar stink that lingers on the website.| John Sakellariadis / Politico: |
Worried that cloud giants offer concentrated targets, the US plans to regulate the security practices of cloud providers like Amazon, Microsoft, and Google — Governments and businesses have spent two decades rushing to the cloud — trusting some of their most sensitive data to tech giants …
More:
WebProNews and Slashdot
Mastodon:
@metacurity@infosec.exchange. Tweets:
@vxzulu, @swagitda_, @dangoldin, @quinnypig, @xxcurt2905xx, @alfonslopeztena, @marcwrogers, @p1z4t, @stollmeyereu, @josourcing, @ericgeller, @usrealitycheck, @politico, @politicoeurope, @incognetllc, and @johnnysaks130
| Darrell Etherington / TechCrunch: |
An interview with Gowalla co-founder and CEO Josh Williams as he re-launches his location-based social networking app at SXSW, 14 years after its debut — One of the original location-based social apps is relaunching at SXSW - 14 years after its debut — Gowalla co-founder and CEO Josh Williams …
Tweets:
@jw
| 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.| Marie Woolf / Globe and Mail: |
Meta says it plans to block Canadians' ability to view or share news content on Facebook and Instagram if the country's proposed Online News Act becomes law — Tech giant Meta has decided to block Canadians' ability to view or share news content on Facebook and Instagram …
More:
Reuters, PCMag, Techaeris, MobileSyrup, and Canadian Press
Tweets:
@yoda, @justinhendrix, @awudrick, @mgeist, @melissambarki, @kkomaitis, @robertfife, @johnwilson, @jason_kint, and @nanaslugdiva
| 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:
Monomythical, Financial Times, Sifted, Reuters, The Information, Chartbook, Australian Financial Review, Forbes, CNN, Fortune, Apricitas Economics, The Enduring Investor, Cointelegraph, Financial Times, New York Times, Vincent's Corner, TechCabal, The Block, Stocks, Web3 and Macro, Daring Fireball, New York Post, BBC, Inc42 Media, Insider, TechSpot, Protos, The Economist, Wall Street Journal, CoinGape, and Noahpinion
Tweets:
@billackman, @altcap, @garrytan, @garrytan, @mcuban, @bobeunlimited, @mcuban, @dicktofel, @davidu, @billackman, @aoc, @nic__carter, @gaberivera, @davidsirota, @thebenbergman, @sahilkapur, @flitteronfraud, @anandwrites, @jbarro, @rauchg, @eisingerj, @jamestitcomb, @alex_kirshner, @roybahat, @northmantrader, @darrenpjones, @bobeunlimited, @matthewstoller, @thestalwart, @jhweissmann, @mattocko, @jbarro, @the_real_fly, @thestalwart, @willjfang, @matthewstoller, @karaswisher, @ditzkoff, @kyliebytes, @mattyglesias, @jessefelder, @anandwrites, @tomaxwell, @peterfenton, @jessicalessin, @fttechnews, @gilbertjasono, @paulkrugman, @flitteronfraud, @mtkonczal, @momblogger, @vinnylingham, @autismcapital, @carlquintanilla, @pkafka, @mckonomy, @trengriffin, @menlobear, @amtvmedia, @drdenagrayson, @pitdesi, @thestalwart, and @dancow
| CNBC: |
More:
Bank of England, TechCrunch, The Lever, Bloomberg, Financial Times, Insider, New York Times, Forbes, Tech Startups, The i Paper, NFT Evening, The Wrap, Washington Post, Financial Times, Follow the Trend, Coinpedia Fintech News, and CoinDesk
Tweets:
@htaneja, @davidsacks, @circle, @davidmarcus, @parkerconrad, @repswalwell, @grdecter, @roshanpatei, @lulumeservey, @bhargreaves, @unusual_whales, @davidsirota, @davidsirota, @fdicgov, @cramertracker, @thestalwart, @tier10k, @balajis, @nikitabier, @tier10k, @robblackwellab, @apatelthompson, @balajis, @mattturck, @davidsirota, @cryptadamist, @balajis, @johnedeaton1, @alistairmbarr, @davidfrum, @oneunderscore__, @buccocapital, @jeffbercovici, @eve6, @bendwalsh, @cz_binance, @zerohedge, @garrytan, @alexandrascaggs, @justinwolfers, @wallstcynic, @mollyjongfast, @shaig, @xenollamas, @thetranscript_, @ellebeyoud, @alexrkonrad, @nytimesbusiness, @sama, @watcherguru, @erikvoorhees, @unusual_whales, @brendanpedersen, @jessicalessin, @autismcapital, @jeffjohnroberts, @jsrailton, @dancow, @twobitidiot, and @danprimack
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