Techmeme
March 10, 2023, 12:05 PM

Top News

CNBC:
Jesse Pound / CNBC:
Sources: SVB Financial, parent of Silicon Valley Bank, is in talks to sell itself after attempts to raise capital failed  —  SVB Financial , parent of Silicon Valley Bank, is in talks to sell itself, sources told CNBC's David Faber.  Attempts by the bank to raise capital have failed …
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: SVB Financial Group, Reuters, The Information, Wall Street Journal, TechCrunch, Bloomberg, PYMNTS.com, Bloomberg, Wall Street Journal, CoinDesk, Pirate Wires, The Information, AltFi, Bloomberg, New York Times, Fortune, Axios, NBC News, TechCrunch, Financial Times, Moodys.com, Financial Times, Reuters, Coinspeaker, Coinspeaker, BBC, Washington Post, and The Register
Erin Woo / The Information:
Some VC firms are encouraging their portfolio companies to pull funds out of Silicon Valley Bank while others are advising startups to keep no more than $250K  —  Silicon Valley Bank CEO Greg Becker on Thursday told top venture capitalists in Silicon Valley to “stay calm” …
Lizette Chapman / Bloomberg:
Email: VC firm Greenoaks warned founders of potential problems at SVB in November 2022; a source says over 12 portfolio companies withdrew ~$1B in recent months  —  Venture investment firm Greenoaks Capital Partners warned its startup founders of potential problems at SVB Financial Group's Silicon Valley Bank …
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.
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.
Arjun Kharpal / CNBC:
Bitcoin falls ~8% to ~$19,900, a near two-month low, and ether falls 8%+ to ~$1,400, after a selloff of US stocks, rising interest rates, and troubles at SVB  —  - Bitcoin fell below $20,000 on Friday hitting a near-two month low after a stock market sell-off in the U.S.
CoinDesk:
New York's AG sues KuCoin, alleging the Seychelles-based crypto exchange offers tokens, such as ETH, that meet the definition of a security, without registering  —  A press release said the lawsuit was part of ongoing “efforts to crack down on unregistered cryptocurrency platforms.”
Ben Jiang / South China Morning Post:
Sensor Tower: Chinese game developers accounted for 40 of the world's top 100 mobile game publishers by revenue in February, bringing in ~$1.85B  —  Chinese video game developers including Shanghai-based miHoYo, the studio behind Genshin Impact , accounted for 40 of the world's top 100 mobile games publishers …
Financial Times:
Sources: after lobbying by Apple, Foxconn, and others, India's Karnataka state will allow 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

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Bloomberg:
Sarah Perez / TechCrunch: