Techmeme
March 11, 2023, 5:45 PM

Top News

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 …
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 …
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.
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.
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 …
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 …
Thomas Seal / Bloomberg:
Todd Spangler / Variety:
TechCrunch:
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.
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 …
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 …
CNBC:
Matt Levine / Bloomberg:
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 …

Sponsor Posts

Subquadratic:
Subquadratic: the LLM built for 12M-token reasoning  —  SubQ can reason across entire codebases and document sets in one pass with no RAG workarounds.  Read how SubQ 1.1 Small holds near-perfect retrieval out to 12M tokens.
Cape:
Most carriers track everything.  Cape doesn't.  —  Unlimited talk, text & data, 24-hr metadata deletion, network ID rotation, SIM-attack defense, and more.  Switch today and get 29% off for life.
Equals:
Stop vibe coding analytics  —  Equals AI turns questions about your business into auditable spreadsheet models and dashboards.  Build once, iterate for years.
Zoho:
Zoho WorkDrive named a Leader in the Nucleus Research CSC Technology Value Matrix 2026  —  Enterprise content management is evolving rapidly with about 80% of the data unstructured.  The growing challenge is not about storing information anymore.
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.

Featured Podcasts

Training Data:
Factory's Matan Grinberg: The Coming 'Dark Factory' Where Software Builds Itself
Sequoia Capital partners host conversations with leading AI builders and researchers to develop a deeper understanding of the evolving technologies and their implications.
Subscribe to Training Data.
Invest Like the Best:
Matthew Smith — Natural Gas: The Next Bottleneck
The leading destination to learn about business and investing. We do this by showcasing exceptional talent and ideas.
Subscribe to Invest Like the Best.
Lenny's Podcast:
Why Netflix is betting on systems thinkers—not specialists—in the AI era | Elizabeth Stone (CPTO)
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:
Kimi K3 & AI's Price War, What Happened To Google?, OpenAI's Partner Trouble
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.
Great Chat:
Never follow your heroes (on X)
A podcast mostly about tech. Brought to you weekly by Angela Du, Sally Shin, Mac Bohannon, Helen Min, and Ashley Mayer.
Subscribe to Great Chat.
Tools and Weapons with Brad Smith:
Connecting the Unconnected: Doreen Bogdan-Martin
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 5:45 PM 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.

More News

James Vincent / The Verge: