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March 13, 2023, 2:25 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 …
More:
Board of Governors …, The White House on YouTube, CNBC, FDIC, Circle, CNN, Bloomberg, CoinDesk, The Hill, PYMNTS.com, TechCrunch, TechCrunch, GeekWire, SVB Financial Group, Wired, Crunchbase News, Decrypt, DL News, Blockworks, Quartz, National Review, Bitcoinist.com, CryptoSlate, Wall Street Journal, Technical.ly, Rate of Return, NBC News, Inside Bitcoins, DealStreetAsia, NFT Evening, Axios, Reuters, CNBC, New York Post, CoinDesk, crypto.news, THE LOGUE, MediaNama, New York Times, Fortune, Coinpedia Fintech News, Coinspeaker, Bloomberg, Tech Startups, Cryptopolitan, Axios, NewsBTC, #OONO, Cryptonews, and CryptoPotato
LinkedIn:
Janet Mui, Chitra Nawbatt, and Dror Futter
Tweets:
@cz_binance, @potus, @jerallaire, @bgarlinghouse, @potus, @coinbase, @nicktimiraos, @danielagabor, @federalreserve, @vcbrags, @jessicalessin, @litcapital, @elaifresh, @neil_irwin, @bobeunlimited, @octal, @samro, @federalreserve, @billackman, @jasonfurman, @gavinsbaker, @chrisjbakke, @jason, @scottjshapiro, @fedguy12, @jimcramer, @danprimack, @macroalf, @gbildson, @burryarchive, @zck, @danprimack, @jeuasommenulle, @cburniske, @cburniske, @thestalwart, @texasvc, @modestproposal1, @trungtphan, @noahpinion, @ingridlunden, @levie, @tracyalloway, @mcuban, @ivanthek, @petercontibrown, @paulmitchell_ab, @stephanie_murr, @senwarren, @mbensass, @devahaz, @m_c_klein, @ian_fraser, @lizrhoffman, @robinbrooksiif, @jasonlk, @salehamohsin, @brendanpedersen, @whstancil, @stefeich, @vermontgmg, @chrisalbon, @charliebilello, @fedguy12, @gavinsbaker, @thebenbergman, @benedictevans, @tculpan, @salehamohsin, @wongmjane, @litcapital, @amlivemon, @anthonyrandazzo, @bgarlinghouse, @sarthakgh, @atrupar, @m_c_klein, @davidsacks, @kgreifeld, @jonatanpallesen, @deanobeidallah, @firstadopter, @mcwm, @axios, @billackman, @wendyedelberg, @davidmwessel, @mattyglesias, @donmoyn, @joelpollak, @tomfitton, @newtgingrich, @dsquareddigest, @neoavatara, @isadwatson, @karaswisher, @dylanleclair_, @lloydblankfein, @adamscochran, @chiweethegod, and @shortsightedcap
| Sinead O'Sullivan / Financial Times: |
Having perfected the art of using echo-chamber hype to move markets, VCs managed to hype their own rumors to collapse SVB, 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.
More:
Slate, Wall Street Journal, Kotaku, Wall Street Journal, and Financial Times
Tweets:
@billackman, @jason, @jason, @davidsacks, @zck, @billackman, @molly0xfff, @andrewrsorkin, @chimeracoder, @evanhill, @rachelensignwsj, @nic__carter, @davidsacks, @buccocapital, @thestalwart, @jason, @carlquintanilla, @repthomasmassie, @silvermanjacob, @jason, @balajis, @noahpinion, @danprimack, @dcwoodruff, @maxkennerly, @brooklynmarie, @ryanlcooper, @chrismohney, @leehepner, @davidsacks, @jspujji, @bigblackjacobin, @pwnallthethings, @davidsacks, @verashokina, @dannypage, @davidsirota, @jathansadowski, @nglaros, @danteatkins, @galois_capital, @ddayen, @mattbinder, @jordanuhl, @nickcho, @jasondebolt, @gritgrowthcap, @thelincoln, @mattbruenig, @adamjohnsonnyc, @nicoleperlroth, @hoofnagle, @chafkin, @carnage4life, @logophobe, @paul_bowers, @nycsouthpaw, @mclendaniel, @antoniogm, @pt, @mattdpearce, @carnage4life, @epicureandeal, @hblodget, @vittostack, @devahaz, @frances_coppola, @gumby4christ, @rohunjauhar, @davidsacks, @thelincoln, @carnage4life, @bigblackjacobin, @f_j_j_, @poordart, @sineados1, and @lalehkhalili
| Iain Withers / Reuters: |
HSBC acquires Silicon Valley Bank's UK arm for £1, citing “strategic sense for our business”; as of March 10, SVB UK had ~£5.5B in loans and ~£6.7B in deposits — HSBC (HSBA.L) said on Monday it is acquiring the UK subsidiary of Silicon Valley Bank for 1 pound.
More:
Financial Times, BBC, Bank of England, GOV.UK, TechCrunch, Bloomberg, HSBC, The Guardian, The Guardian, Silicon Valley Business …, Cointelegraph, The Economic Times, The Register, LinkedIn, The Information, PaymentSecurity.io, gHacks Technology News, Reuters, Crowdfund Insider, Bloomberg, CNBC, Inside Bitcoins, Axios, Politico, CNN, Coinpedia Fintech News, The Times, ABC News, Cryptonews, Micky, New York Times, CoinDesk, Tech Monitor, City A.M., Tech in Asia, PYMNTS.com, crypto.news, Cryptopolitan, Forbes, UKTN, Dow Jones Newswires, Silicon Canals, Watcher Guru, and CoinJournal
LinkedIn:
Caroline Hepker and Rishi Sunak
Tweets:
@jeremy_hunt, @cetier1, @hmtreasury, @jamestitcomb, @wublockchain, @douglas4moray, @danielkorski, @justin_cash_1, @samgyimah, @loomdart, @daniburgz, @bondhack, @benedictcooney, @richardgrahamuk, @georgewparker, @checkwarner, @michelledonelan, @mjrobbins, @ibrahimsaninet, @bandrew, @georgewparker, @nigel_farage, @suzanneashman, @lisaabramowicz1, @thetranscript_, @jespow, @mayazi, @jamestitcomb, @edconwaysky, @drsdeg, @paulbranditv, and @justin_cash_1
| 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 and Bloomberg
LinkedIn:
Bo Ren. Tweets:
@modestproposal1, @johnthornhillft, @edsuh, @jpm25, @aphclarkson, @stianwestlake, @macconwell, @flying_mom, @samirkaji, @rachaelrad, @dsquareddigest, @antoinegara, @dee_bosa, and @sarthakgh
| 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:
Forbes, Slate, Bloomberg, TechCrunch, Robert Reich, and Rounding the Earth Newsletter
LinkedIn:
Nathan Mairs. Mastodon:
@ampressman@journa.host. Tweets:
@chrismessina, @jen_mcfadden, @racecar_babytoy, @dkthomp, @thestalwart, @nowmediascott, @bzalasky, @stratechery, and @reubenr80027912
| The Verge: |
A Reddit user shows how Samsung's Space Zoom feature produces fake, generated images of the moon, highlighting how computational photography is changing photos — For years, Samsung “Space Zoom”-capable phones have been known for their ability to take incredibly detailed photos of the Moon.
More:
r/Android on Reddit, HotHardware, AppleInsider, 9to5Google, MacRumors, and The Register
Tweets:
@halidecamera, @fchollet, @raphaelmilliere, @supersaf, @sdw, @chrislintott, @somegadgetguy, @adrianhon, @halidecamera, @adrianhon, and @uwukko
| Sarah Perez / TechCrunch: |
WordPress.com owner Automattic acquires the WordPress plugin ActivityPub and hires its developer, to help blogs integrate with the Fediverse, including Mastodon — WordPress.com sites now have an easier way to integrate with the Fediverse, including Mastodon.| 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 …
More:
FDIC, Reuters, Department of Financial …, The Block, Wall Street Journal, New York Times, Decrypt, PYMNTS.com, CBS News, Bloomberg, The Block, Politico, Neowin, crypto.news, Apricitas Economics, Blockworks, Cointelegraph, VentureBeat, Financial Times, MarketWatch, The Guardian, Inside Bitcoins, Coinspeaker, Crypto Daily, Livemint, and Bitcoin News
Tweets:
@jchervinsky, @hfangca, @melt_dem, @josephzeballos, @twobitidiot, @thestalwart, @okcoin, @fdicgov, @matthewstoller, @davidkurten, @leehower, @tbr90, and @arjunsethi
| Bloomberg: |
More:
Bloomberg and Coinspeaker
Tweets:
@coinbase, @twobitidiot, @tracyalloway, @timccopeland, @hsakatrades, @mayazi, @0xquit, @kamikaz_eth, and @lyu_johnny
| MacKenzie Sigalos / CNBC: |
| 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:
BleepingComputer, Cointelegraph, TechCrunch, Decrypt, Bloomberg, DataBreachToday.com, Cryptopolitan, crypto.news, Ethereum World News, and SecurityWeek
Mastodon:
@lorenzofb@infosec.exchange. Tweets:
@eulerfinance, @peckshield, @zachxbt, @pcaversaccio, @peckshield, @degenspartan, @functi0nzer0, @crypto_mckenna, @mhonkasalo, @functi0nzer0, @0xtuba, @nomorebear, @lidofinance, @peckshield, @0xrooter, @yohangglobal, @mhonkasalo, and @route2fi
| CNBC: |
First Republic Bank's stock drops 60%+, after declining 33% last week, despite claiming $70B+ in unused liquidity on March 12 and the Fed's new lending facility — - First Republic said Sunday it had received additional liquidity from the Federal Reserve and JPMorgan Chase.| Dina Bass / Bloomberg: |
After investing $1B in OpenAI in 2019, Microsoft found ways to string together tens of thousands of Nvidia A100 GPUs, costing several hundred million dollars — 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.
More:
The Verge, Microsoft, and Insider
Tweets:
@aparanjape, @chafkin, @dinabass, @dinabass, @rustybrick, and @brianroemmele
| 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 … Sponsor Posts
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