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March 13, 2023, 12:45 PM
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| U.S. Department of the Treasury: |
The US Treasury, Federal Reserve, and the FDIC say all Silicon Valley Bank depositors will be “fully” protected, and their money will be available on March 13 — WASHINGTON, DC — The following statement was released by Secretary of the Treasury Janet L. Yellen …
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Board of Governors …, The White House on YouTube, Circle, FDIC, CoinDesk, CNN, TechCrunch, GeekWire, DL News, Decrypt, Blockworks, Crunchbase News, Wired, Bloomberg, CryptoSlate, Bloomberg, CNBC, Inside Bitcoins, PYMNTS.com, National Review, Wall Street Journal, DealStreetAsia, The Hill, NBC News, NFT Evening, Cointelegraph, Protos, Cryptopolitan, Axios, #OONO, CryptoPotato, New York Post, NewsBTC, New York Times, CNBC, Wired UK, CNBC, CoinDesk, crypto.news, THE LOGUE, MediaNama, Fortune, Coinpedia Fintech News, Coinspeaker, Bloomberg, Tech Startups, Axios, and Cryptonews
LinkedIn:
Janet Mui, Chitra Nawbatt, and Dror Futter
Tweets:
@potus, @cz_binance, @jerallaire, @bgarlinghouse, @potus, @coinbase, @nicktimiraos, @danielagabor, @vcbrags, @billackman, @federalreserve, @samro, @neil_irwin, @litcapital, @bobeunlimited, @elaifresh, @gbildson, @gavinsbaker, @octal, @federalreserve, @jeuasommenulle, @jasonfurman, @chrisjbakke, @jason, @scottjshapiro, @fedguy12, @jimcramer, @danprimack, @zck, @macroalf, @burryarchive, @thestalwart, @ingridlunden, @modestproposal1, @trungtphan, @noahpinion, @lloydblankfein, @gavinsbaker, @levie, @nycsouthpaw, @charliebilello, @salehamohsin, @dogetoshi, @tracyalloway, @wongmjane, @stephanie_murr, @jimcramer, @shortsightedcap, @anthonyrandazzo, @mekkaokerekebye, @jonatanpallesen, @tomfitton, @davidmwessel, @econguyrosie, @lpnational, @wendyedelberg, @isadwatson, @kaitlancollins, @kgreifeld, @stefeich, @atrupar, @peston, @thebenbergman, @robinbrooksiif, @salehamohsin, @atrupar, @senwarren, @whstancil, @firstadopter, @mgsiegler, @mcuban, @ivanthek, @petercontibrown, @levie, @paulmitchell_ab, @martinsfp, @mbensass, @devahaz, @m_c_klein, @ian_fraser, @lizrhoffman, @jasonlk, @brendanpedersen, @vermontgmg, @eugenewei, @chrisalbon, @fedguy12, @benedictevans, @callumj, @tculpan, @litcapital, @amlivemon, @bgarlinghouse, @sarthakgh, @m_c_klein, @davidsacks, @repsarajacobs, @deanobeidallah, @mcwm, @axios, @billackman, @mattyglesias, and @donmoyn
| Iain Withers / Reuters: |
HSBC plans to acquire Silicon Valley Bank UK for £1, citing “strategic sense for our business”; as of March 10, SVB UK had ~£5.5B loans and ~£6.7B deposits — HSBC (HSBA.L) said on Monday it is acquiring the UK subsidiary of Silicon Valley Bank for 1 pound.
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London Stock Exchange, Bank of England, Financial Times, GOV.UK, BBC, TechCrunch, Bloomberg, Silicon Valley Business …, The Guardian, The Guardian, The Register, The Economic Times, Cointelegraph, The Information, LinkedIn, gHacks Technology News, Crowdfund Insider, Forbes, Finbold, crypto.news, Inside Bitcoins, Bloomberg, CNBC, Axios, Politico, CNN, Coinpedia Fintech News, Associated Press, The Times, ABC News, Cryptonews, Micky, Coinspeaker, New York Times, CoinDesk, Tech Monitor, City A.M., DL News, Tech in Asia, PYMNTS.com, South China Morning Post, Cryptopolitan, UKTN, Dow Jones Newswires, Silicon Canals, and Watcher Guru
LinkedIn:
Caroline Hepker and Rishi Sunak
Tweets:
@jeremy_hunt, @cetier1, @hmtreasury, @jamestitcomb, @douglas4moray, @wublockchain, @nigel_farage, @danielkorski, @justin_cash_1, @samgyimah, @loomdart, @daniburgz, @bondhack, @benedictcooney, @richardgrahamuk, @georgewparker, @checkwarner, @michelledonelan, @mjrobbins, @ibrahimsaninet, @bandrew, @georgewparker, @suzanneashman, @lisaabramowicz1, @thetranscript_, @jespow, @mayazi, @jamestitcomb, @edconwaysky, and @drsdeg
| Sinead O'Sullivan / Financial Times: |
Having perfected the art of using hype to move markets, VCs managed to hype their own rumors to collapse SVB, accidentally slaying a much loved accomplice — After more than a decade of venture capitalists insisting they provide more than just cash to their portfolio companies, the moment to prove that finally arrived.
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Slate, Wall Street Journal, Kotaku, Wall Street Journal, and Financial Times
Tweets:
@billackman, @jason, @jason, @davidsacks, @zck, @billackman, @molly0xfff, @andrewrsorkin, @silvermanjacob, @chimeracoder, @evanhill, @rachelensignwsj, @nic__carter, @davidsacks, @buccocapital, @thestalwart, @jason, @carlquintanilla, @repthomasmassie, @brooklynmarie, @jason, @balajis, @ryanlcooper, @noahpinion, @vittostack, @jathansadowski, @davidsirota, @jordanuhl, @kylesgibson, @nglaros, @maxkennerly, @bigblackjacobin, @chafkin, @chafkin, @thelincoln, @felixsalmon, @jasondebolt, @chrismohney, @mattbruenig, @leehepner, @davidsacks, @jspujji, @bigblackjacobin, @pwnallthethings, @davidsacks, @verashokina, @dannypage, @danteatkins, @galois_capital, @ddayen, @mattbinder, @nickcho, @gritgrowthcap, @adamjohnsonnyc, @nicoleperlroth, @hoofnagle, @carnage4life, @logophobe, @paul_bowers, @nycsouthpaw, @mclendaniel, @antoniogm, @pt, @mattdpearce, @carnage4life, @epicureandeal, @hblodget, @devahaz, @frances_coppola, and @gumby4christ
| Michael Moritz / Financial Times: |
A eulogy for Silicon Valley Bank, a business partner to tech for 40 years, which offered services when established banks would not and was undone by its loyalty — Regardless of the reasons behind the bank's collapse, it leaves a huge hole for the start-up scene — The writer is a partner at Sequoia Capital
More:
Monomythical, Bloomberg, and New York Times
LinkedIn:
Bo Ren. Tweets:
@modestproposal1, @johnthornhillft, @macconwell, @samirkaji, @dee_bosa, @edsuh, @jpm25, @aphclarkson, @stianwestlake, @flying_mom, @rachaelrad, @dsquareddigest, and @antoinegara
| Ben Thompson / Stratechery: |
SVB bears responsibility for its demise, the outcome of disruption being tech's objective function, and the Silicon Valley myth could be the ultimate casualty — Banks are, at their core, facilitators: depositors lend their money to a bank, for which they are paid interest, and banks lend that money out, again for interest.
More:
TechCrunch, Bloomberg, Slate, Yes, I give a FIG, Robert Reich, and Rounding the Earth Newsletter
LinkedIn:
Nathan Mairs. Mastodon:
@ampressman@journa.host. Tweets:
@thestalwart, @samesfandiari, @racecar_babytoy, @nowmediascott, @bzalasky, @neoavatara, @reubenr80027912, @dkthomp, @jen_mcfadden, and @stratechery
| The Verge: |
A Reddit user shows how Samsung's “Space Zoom” feature produces fake, generated images of the moon, highlighting how photography and “real photos” are changing — For years, Samsung “Space Zoom”-capable phones have been known for their ability to take incredibly detailed photos of the Moon.
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r/Android on Reddit, AppleInsider, MacRumors, The Register, MobileSyrup, Tom's Guide, PhoneArena, TechSpot, Phandroid, and iThinkDifferent
Tweets:
@halidecamera, @fchollet, @supersaf, @raphaelmilliere, @raywongy, @raywongy, @samifathi_, @adrianhon, @uwukko, @j_bertolotti, @adrianhon, @halidecamera, @sdw, @chrislintott, and @somegadgetguy
| CNBC: |
New York shuts down Signature Bank as US regulators cite a “systemic risk exception” like for SVB, announcing all of Signature's depositors will be “made whole” — U.S. regulators said Sunday it shut down New York-based Signature Bank, a second financial institution …
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FDIC, Reuters, Department of Financial …, TechCrunch, The Block, Wall Street Journal, Decrypt, New York Times, PYMNTS.com, Bloomberg, Blockworks, The Block, Neowin, VentureBeat, CBS News, Gizmodo, Cointelegraph, CoinGape, Bitcoin News, Financial Times, MarketWatch, The Guardian, crypto.news, Inside Bitcoins, Crypto Daily, Livemint, Coinspeaker, Apricitas Economics, Watcher Guru, and Money Guide
| MacKenzie Sigalos / CNBC: |
Signature closing means its real-time payment platform Signet can no longer serve crypto clients, a blow after SEN closed; BTC jumps ~7% and USDC regains peg — - Silvergate and Signature were the two main banks for crypto companies, while Silicon Valley Bank had a lot of crypto startups and VCs as customers.
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Wall Street Journal, Crypto Briefing, Quartz, South China Morning Post, Crypto Daily, Livemint, Beginning of Freedom, ExchangeWire.com, Coinspeaker, and Grit Capital
Tweets:
@jacqmelinek, @amacker, and @laurawalkerkc
| Bloomberg: |
More:
Bloomberg, Cointelegraph, Livemint, and CoinDesk
Tweets:
@coinbase, @twobitidiot, @tracyalloway, @timccopeland, @hsakatrades, @mayazi, @0xquit, and @kamikaz_eth
| Vishal Chawla / The Block: |
Lending protocol Euler Finance lost $197M in a flash-loan attack, including $136M in stETH and $34M in USDC; Euler raised $32M in June 2022; EUL drops 45%+ — - Euler Finance was hit by a flash-loan attack that resulted in a loss of $197 million, according to security analysts.
More:
TechCrunch, Cointelegraph, Decrypt, Bloomberg, crypto.news, SecurityWeek, Cryptonews, Cryptopolitan, and Ethereum World News
Mastodon:
@lorenzofb@infosec.exchange. Tweets:
@eulerfinance, @peckshield, @pcaversaccio, @zachxbt, @peckshield, @degenspartan, @functi0nzer0, @crypto_mckenna, @mhonkasalo, @functi0nzer0, @0xtuba, @nomorebear, @lidofinance, @peckshield, @0xrooter, @yohangglobal, and @mhonkasalo
| CNBC: |
First Republic Bank's stock drops 60%+, after declining 33% last week, despite the Fed's new lending facility and saying Sunday it had $70B+ in unused liquidity — - First Republic said Sunday it had received additional liquidity from the Federal Reserve and JPMorgan Chase.| Fortesa Latifi / Teen Vogue: |
A YouTuber who went viral as a toddler says she resents her family for monetizing her childhood, as some influencer parents take their children off social media — “Nothing they do now is going to take back the years of work I had to put in.” — Search Claire's name online … | Dina Bass / Bloomberg: |
After Microsoft invested $1B in OpenAI in 2019, the company scrambled to string together tens of thousands of Nvidia A100 GPUs, costing several hundred million — When Microsoft Corp. invested $1 billion in OpenAI in 2019, it agreed to build a massive, cutting-edge supercomputer for the artificial intelligence research startup.Sponsor Posts
Command Line:
Azure Content Understanding: Building on lessons from a decade of Document Intelligence — What a decade of teaching machines to read real-world documents taught us about what LLMs can and can't do.
Azure Content Understanding: Building on lessons from a decade of Document Intelligence — What a decade of teaching machines to read real-world documents taught us about what LLMs can and can't do.
Will Reed:
The best sales leaders aren't job hunting. Here's how to reach them without months of cold outreach. — Our team came from Box, Square, and Brex, so we already know the GTM leaders worth meeting.
The best sales leaders aren't job hunting. Here's how to reach them without months of cold outreach. — Our team came from Box, Square, and Brex, so we already know the GTM leaders worth meeting.
Zoho:
App Spotlight: TDS 26AS Reconciliation for Zoho Books — Automate 26AS/Form 168 reconciliation, ensuring that mismatches between your 26AS/Form 168 and books are flagged to make ITR filing seamless …
App Spotlight: TDS 26AS Reconciliation for Zoho Books — Automate 26AS/Form 168 reconciliation, ensuring that mismatches between your 26AS/Form 168 and books are flagged to make ITR filing seamless …
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.
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
Sources:
Robinhood's CEO on letting AI trade your money
Candid conversations with the leaders shaping what's next in AI and the broader tech industry. Hosted by Alex Heath, who has covered Silicon Valley for more than a decade.
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Training Data:
David Silver and Lasse Espeholt of Ineffable Intelligence: A Superlearner for the Age of Experience
Sequoia Capital partners host conversations with leading AI builders and researchers to develop a deeper understanding of the evolving technologies and their implications.
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Invest Like the Best:
David Vélez - Building Nubank and the Future of Global Banking
The leading destination to learn about business and investing. We do this by showcasing exceptional talent and ideas.
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Cheeky Pint:
Muse Wonder: Zuckerberg and Wang's $100B AI
Stripe cofounder John Collison interviews founders, builders, and leaders over a pint.
Subscribe to Cheeky Pint.
Lenny's Podcast:
Why every company now needs to think and operate like a lab team | Josh Woodward (Google Labs, Gemini, AI Studio)
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:
Meta & Microsoft's Claude Slowdown, His Agent Leaked His Banking Info, Don't Bully Your AI
The Big Technology Podcast takes you behind the scenes in the tech world featuring interviews with plugged-in insiders and outside agitators.
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