| 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; SIVB crashes 60%+ — Technology-focused lender suffered loss on $21bn portfolio of Treasuries and mortgage-backed securities — Silicon Valley Bank has launched … | 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.”| Karissa Bell / Engadget: |
Report: Meta pauses Reels Play bonuses in the US; launched in 2021, the program promised Facebook and Instagram creators up to $35K a month based on view counts — Meta seems to be phasing out one of the key initiatives that helped Reels creators on Facebook and Instagram get paid.| Wall Street Journal: |
FTC sues to block Intercontinental Exchange's $11.7B acquisition of mortgage software provider Black Knight, saying the deal would lead to higher prices — Antitrust agency says a deal would lead to higher costs for lenders and, ultimately, home buyers — The Federal Trade Commission voted Thursday … | 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 … | Cagan Koc / Bloomberg: |
The Netherlands, like ASML, is trying to find a middle ground between the US and China on chip sanctions, with recent plans stopping short of Biden's 2022 rules — The Dutch are trying to find a middle ground between the US and China in an escalating battle over the world's chip supply chain.
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| Sarah Perez / TechCrunch: |