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March 11, 2023, 3:50 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, ZyCrypto, NewsBTC, Cryptopolitan, CoinGape, Cryptonews, Wu Blockchain, Decrypt, Reuters, and Coinpedia Fintech News
Tweets:
@circle, @binance, @circle, @mikeisaac, @unusual_whales, @lexnfx, @cryptowendyo, @wublockchain, @edzitron, @asvanevik, @pitdesi, @allnick, 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, Reuters, Cointelegraph, CoinDesk, CNBC, Wall Street Journal, crypto.news, Crowdfund Insider, Ethereum World News, Inside Bitcoins, Decrypt, Cryptopolitan, NewsBTC, Coinpedia Fintech News, CoinGape, The Block, Cryptonews, The Information, and CoinJournal
Tweets:
@coinbase, @coinbase, @simonpb, @petergyang, and @edzitron
| 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.
More:
Insider. Mastodon:
@guacamayan@journa.host and @ncweaver@thecooltable.wtf
Tweets:
@carnage4life, @w3sobeefy, @moshaikhs, @hblodget, and @jossytweets
| 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:
Circle Blog, The Block, Bloomberg, TechCrunch, The Information, CryptoSlate, Forbes, Mashable, Inside Bitcoins, Fortune, The Daily Hodl, Crypto Daily, Bitcoinist.com, CryptoGlobe, Cryptopolitan, and CoinGape
Tweets:
@0xfoobar, @adamscochran, @smtuffy, @northrocklp, @autismcapital, @epro, @1markmoss, @silvermanjacob, @mikeburgersburg, @alice_comfy, and @chainlinkgod
| 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
| 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, Insider, and Cooley
Tweets:
@heetermaria, @alistairmbarr, @fchollet, @rakeshlobster, @armanddoma, @reedalbergotti, @_drew_mccoy_, and @lizrhoffman
| 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:
CNN, Insider, Fortune, Financial Times, Sifted, Forbes, The Information, The Block, Reuters, BBC, Chartbook, CNBC, Vincent's Corner, Wall Street Journal, The Economist, Financial Times, TechCabal, Vox, Noahpinion, CoinGape, TechSpot, Inc42 Media, Silicon Canals, Andrew's Substack, The Economic Times, and Protos
Tweets:
@htaneja, @billackman, @garrytan, @altcap, @garrytan, @mcuban, @davidu, @bobeunlimited, @mcuban, @samirkaji, @dicktofel, @jhweissmann, @mattyglesias, @tomaxwell, @aoc, @ditzkoff, @jessefelder, @willjfang, @sahilkapur, @flitteronfraud, @ronconway, @carlquintanilla, @pitdesi, @gaberivera, @autismcapital, @davidsirota, @thebenbergman, @menlobear, @anandwrites, @jbarro, @eisingerj, @jamestitcomb, @alex_kirshner, @northmantrader, @darrenpjones, @bobeunlimited, @matthewstoller, @thestalwart, @mattocko, @vinnylingham, @trengriffin, @amtvmedia, @mckonomy, @jbarro, @the_real_fly, @thestalwart, @matthewstoller, @karaswisher, @momblogger, @kyliebytes, @drdenagrayson, @jessicalessin, @fttechnews, @gilbertjasono, @mtkonczal, @pkafka, @thestalwart, @dancow, @stilichoreads, @amazzara1, @moorehn, @gergelyorosz, @taylorlorenz, @alistairmbarr, @mattrosoff, @rakeshlobster, @mckonomy, @annmlipton, @silviakillings, @besttrousers, @davidmwessel, @tcarmody, and @walthickey
| TechCrunch: |
How startup founders are reacting to Silicon Valley Bank's collapse, as some worry about frozen funds, operating expenses, and paying employees full salaries — Engineers at Polymath Robotics were working late Wednesday night on multiple projects when co-founder and CEO Stefan Seltz-Axmacher noticed chatter …
More:
NPR, New York Times, The Information, Bloomberg, Forbes, GeekWire, Politico, Insider, Washington Post, What's Hot in Enterprise IT/VC, TechCrunch, CNBC, CNBC, U.S. Department …, and Axios
Tweets:
@davidsacks, @ddisparte, @sumukhsridhara, @fordm, @garrytan, @ericnewcomer, @jenn_elias, @jenn_elias, @rokhanna, @nycsouthpaw, @aoc, @modestproposal1, @livefromvr, @paulg, @semaforben, @danprimack, @kateclarktweets, @pt, @howardlindzon, @__aston__, @wolfejosh, @karaswisher, @rolfewinkler, @rolfewinkler, @jasonfurman, @s_mikhailovich, @eliotwb, @karaswisher, @film_girl, @garrytan, @heidibraun, @lorenasgonzalez, @stanleyroberts, @amir, @karaswisher, @martinsfp, @hblodget, @nils_gilman, @kateclarktweets, @scott_wiener, @katie_roof, @kateclarktweets, @jsrailton, @jsrailton, @alexweprin, @brianroemmele, @cpa_trendlines, @yoda, @nmasc_, @dominicmadori, @cullend, @alex, and @bayareawriter
| Todd Spangler / Variety: |
More:
SEC.gov, CNBC, Insider, Bill, CNN, Engadget, The Economic Times, and Deadline
Tweets:
@mollypriddy, @tomgara, @adamblevine, @devincow, @xpangler, @mikeisaac, and @stephennellis
| Thomas Seal / Bloomberg: |
More:
Sky News, South China Morning Post, The Economic Times, and TechCrunch
Tweets:
@kprescott, @moving_charlie, @matthfield, @lynnmdoan, @mikegatto, @israelipm, @tw_seal, @anothercohen, @cornelialake, and @tw_seal
| CNBC: |
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TechCrunch, The Lever, FDIC, New York Times, Bank of England, Wall Street Journal, The i Paper, The Wrap, Financial Times, Fortune, Associated Press, CoinDesk, TechCrunch, ZeroHedge, CNBC, Dr. Hans Substack, Coinpedia Fintech News, Sifted, Exit Fuel 🛢️, Associated Press, Financial Times, The Information, and Los Angeles Times
Mastodon:
@briankrebs@infosec.exchange. Tweets:
@circle, @davidmarcus, @parkerconrad, @grdecter, @repswalwell, @roshanpatei, @bhargreaves, @bhargreaves, @lulumeservey, @fdicgov, @cramertracker, @thestalwart, @tier10k, @unusual_whales, @davidsirota, @nikitabier, @balajis, @tier10k, @robblackwellab, @davidsirota, @apatelthompson, @alistairmbarr, @cz_binance, @oneunderscore__, @davidsirota, @zerohedge, @garrytan, @alexandrascaggs, @wallstcynic, @justinwolfers, @shaig, @thetranscript_, @xenollamas, @ellebeyoud, @alexrkonrad, @sama, @watcherguru, @brendanpedersen, @erikvoorhees, @nytimesbusiness, @bendwalsh, @unusual_whales, @eve6, @davidfrum, @mollyjongfast, @jeffbercovici, @cryptadamist, @buccocapital, @autismcapital, @jeffjohnroberts, @jsrailton, @dancow, @twobitidiot, @danprimack, @tracyalloway, @espiers, @jasonzweigwsj, @katienotopoulos, @bondhack, @teroterotero, @bhargreaves, @zachweinberg, @alistairmbarr, @amir, @ericnewcomer, @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, @jamestitcomb, @immad, @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, and @52kskew
| 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, Insider, and Gizmodo
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.| 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
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