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March 11, 2023, 3:15 PM
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| 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:
The Maker Forum, CoinDesk, Cointelegraph, The Block, Bitcoin News, Ethereum World News, Reuters, ZyCrypto, NewsBTC, CoinGape, Cryptonews, Wu Blockchain, and Coinpedia Fintech News
Tweets:
@circle, @binance, @circle, @mikeisaac, @lexnfx, @allnick, @unusual_whales, @cryptowendyo, @wublockchain, @edzitron, @asvanevik, @pitdesi, and @michaeljordaan
| Bloomberg: |
Coinbase and Binance temporarily suspend conversions of USDC into USD; USDC depegged and 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, hurt by the exposure …
More:
The Guardian, Cointelegraph, CoinDesk, Reuters, CNBC, crypto.news, Wall Street Journal, Crowdfund Insider, Cryptopolitan, Inside Bitcoins, Decrypt, Decrypt, NewsBTC, Coinpedia Fintech News, CoinGape, The Block, Cryptonews, The Information, CoinJournal, and The Block
Tweets:
@coinbase, @coinbase, @simonpb, @petergyang, and @edzitron
| Krisztian Sandor / CoinDesk: |
Circle's USDC has seen $1B in net redemptions since SVB's collapse and 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:
The Block, Bloomberg, TechCrunch, The Information, Forbes, CryptoSlate, Mashable, Inside Bitcoins, Fortune, The Daily Hodl, CryptoGlobe, Crypto Daily, Bitcoinist.com, Cryptopolitan, and CoinGape
Tweets:
@0xfoobar, @1markmoss, @adamscochran, @smtuffy, @northrocklp, @autismcapital, @epro, @silvermanjacob, @mikeburgersburg, @alice_comfy, and @chainlinkgod
| New York Times: |
SBV collapse led to finger-pointing, as some crypto advocates preach and scold while some investors argue crypto collapses set the stage for SVB's collapse — The implosion of the Silicon Valley bank led to finger-pointing, as executives and investors jumped on the crisis for their own messaging.
Mastodon:
@guacamayan@journa.host and @ncweaver@thecooltable.wtf
Tweets:
@w3sobeefy, @moshaikhs, @hblodget, and @jossytweets
| 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 at SVB as of February 28 — The fallout from the collapse of Silicon Valley Bank is impacting a range of startups and larger firms including …
More:
Insider, Fortune, BIG by Matt Stoller, The Information, Bloomberg, and Philip Elmer‑DeWitt
| 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, The Economic Times, and Deadline
Tweets:
@tomgara, @mollypriddy, @adamblevine, @devincow, @xpangler, @mikeisaac, and @stephennellis
| Sarah Wynn / The Block: |
Filing: crypto lender BlockFi, which filed for bankruptcy in November 2022, has $227M in uninsured funds in SVB; BlockFi may have violated US bankruptcy law — - 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 and crypto.news
Tweets:
@laurenshirsch, @frances_coppola, @justafamilyman_, and @bowtiedbull
| Thomas Seal / Bloomberg: |
More:
South China Morning Post, Sky News, TechCrunch, and The Economic Times
Tweets:
@kprescott, @matthfield, @lynnmdoan, @mikegatto, @israelipm, @anothercohen, @tw_seal, @cornelialake, and @tw_seal
| TechCrunch: |
More:
NPR, The Information, Bloomberg, New York Times, Insider, Forbes, GeekWire, Politico, Washington Post, CNBC, What's Hot in Enterprise IT/VC, TechCrunch, CNBC, U.S. Department …, and Axios
Tweets:
@davidsacks, @ddisparte, @sumukhsridhara, @rokhanna, @fordm, @jenn_elias, @jenn_elias, @ericnewcomer, @semaforben, @danprimack, @kateclarktweets, @pt, @howardlindzon, @__aston__, @garrytan, @wolfejosh, @rolfewinkler, @rolfewinkler, @jasonfurman, @s_mikhailovich, @eliotwb, @karaswisher, @film_girl, @karaswisher, @heidibraun, @nils_gilman, @karaswisher, @garrytan, @lorenasgonzalez, @stanleyroberts, @amir, @martinsfp, @hblodget, @kateclarktweets, @scott_wiener, @katie_roof, @kateclarktweets, @jsrailton, @jsrailton, @alexweprin, @brianroemmele, @cpa_trendlines, @yoda, @nmasc_, @dominicmadori, @cullend, @alex, and @bayareawriter
| 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 and Department of Justice
Tweets:
@lorenzofb, @patrickwardle, and @malwarejake
| Giovanni Colantonio / Digital Trends: |
After being prompted to create a Sudoku-like puzzle, ChatGPT “invented” a game called Sumplete that is nearly identical to at least one years-old mobile game — 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:
@carnage4life, @tomchivers, @dannyrichman, @marcosbl, @psythor, @andrewmartonik, @marioprime, and @marioprime
| 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.| 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 … | Matt Levine / Bloomberg: |
More:
CNN, Insider, Financial Times, Fortune, Sifted, Forbes, The Block, The Information, Reuters, BBC, Chartbook, CNBC, Financial Times, Wall Street Journal, The Economist, TechCabal, Vox, Noahpinion, CoinGape, TechSpot, Andrew's Substack, Inc42 Media, Silicon Canals, The Economic Times, and Protos
Tweets:
@billackman, @htaneja, @garrytan, @altcap, @garrytan, @mcuban, @davidu, @bobeunlimited, @mcuban, @jhweissmann, @mattyglesias, @tomaxwell, @aoc, @ditzkoff, @jessefelder, @samirkaji, @willjfang, @sahilkapur, @dicktofel, @flitteronfraud, @ronconway, @thestalwart, @thestalwart, @jbarro, @kyliebytes, @carlquintanilla, @pitdesi, @gaberivera, @autismcapital, @davidsirota, @thebenbergman, @menlobear, @anandwrites, @eisingerj, @jamestitcomb, @alex_kirshner, @northmantrader, @darrenpjones, @bobeunlimited, @matthewstoller, @mattocko, @vinnylingham, @trengriffin, @amtvmedia, @mckonomy, @jbarro, @the_real_fly, @matthewstoller, @karaswisher, @momblogger, @drdenagrayson, @jessicalessin, @fttechnews, @gilbertjasono, @mtkonczal, @pkafka, @thestalwart, @dancow, @stilichoreads, @amazzara1, @moorehn, @gergelyorosz, @taylorlorenz, @alistairmbarr, @mattrosoff, @rakeshlobster, @mckonomy, @annmlipton, @silviakillings, @besttrousers, @davidmwessel, @tcarmody, and @walthickey
| CNBC: |
More:
The Lever, FDIC, New York Times, Wall Street Journal, Bank of England, The Wrap, The i Paper, Financial Times, Fortune, Associated Press, CoinDesk, TechCrunch, ZeroHedge, CNBC, Blockworks, Dr. Hans Substack, Coinpedia Fintech News, Sifted, Exit Fuel 🛢️, Financial Times, Associated Press, The Information, and Los Angeles Times
Mastodon:
@briankrebs@infosec.exchange and @kkomaitis@techpolicy.social
Tweets:
@circle, @parkerconrad, @grdecter, @repswalwell, @roshanpatei, @davidmarcus, @bhargreaves, @bhargreaves, @lulumeservey, @fdicgov, @thestalwart, @cramertracker, @tier10k, @unusual_whales, @nikitabier, @davidsirota, @balajis, @tier10k, @robblackwellab, @davidsirota, @apatelthompson, @alistairmbarr, @cz_binance, @oneunderscore__, @davidsirota, @garrytan, @alexandrascaggs, @wallstcynic, @justinwolfers, @zerohedge, @shaig, @thetranscript_, @xenollamas, @ellebeyoud, @alexrkonrad, @sama, @watcherguru, @brendanpedersen, @erikvoorhees, @nytimesbusiness, @bendwalsh, @unusual_whales, @eve6, @autismcapital, @davidfrum, @mollyjongfast, @jeffbercovici, @cryptadamist, @buccocapital, @jeffjohnroberts, @jsrailton, @dancow, @twobitidiot, @danprimack, @tracyalloway, @espiers, @jasonzweigwsj, @katienotopoulos, @bondhack, @teroterotero, @bhargreaves, @zachweinberg, @alistairmbarr, @ericnewcomer, @amir, @jessicalessin, @taylorlorenz, @brendanpedersen, @business, @modestproposal1, @mikeisaac, @cate_long, @karlbode, @charlesarthur, @maxkennerly, @kendrawrites, @anthony, @lexnfx, @decloet, @kevinyun, @josephpolitano, @antoniogm, @twobitidiot, @goldman, @anthony, @max_fisher, @pkedrosky, @sifill_, @nycjim, @asanwal, @lulumeservey, @immad, @jamestitcomb, @bhargreaves, @ellenhuet, @sruhle, @regulatorynerd, @cloud_opinion, @ericnewcomer, @fvogelstein, @jp_koning, @taylorlorenz, @mikeisaac, @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_, and @pinboard
| Bill Toulas / BleepingComputer: |
Brazil is seizing shipments of Flipper Zero, a $169 portable security penetration testing tool for wireless devices, due to its alleged use in criminal activity — The Brazilian National Telecommunications Agency is seizing incoming Flipper Zero purchases due to its alleged use in criminal activity … | 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:
@marywareham, @carnage4life, @jjvincent, @jonlamart, and @adamsinger
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