March 27, 2023, 1:30 PM

Top News

Daniel Taub / Bloomberg:
First Citizens agrees to buy the commercial banking business of Silicon Valley Bank from the FDIC including all deposits and loans  —  First Citizens BancShares Inc. agreed to buy Silicon Valley Bank which was seized by regulators following a run on the lender.
Frederic Lardinois / TechCrunch:
Microsoft says Teams has 280M MAUs, up from 270M in Jan. 2022, and says it has rebuilt Teams to be twice as fast, rolling out to Windows' Public Preview program  —  Teams, Microsoft's Slack rival, has always had a bit of a reputation for being slow and resource-hungry.
Alex Hern / The Guardian:
Nvidia CTO Michael Kagan says crypto does not “bring anything useful for society” and other processing power uses like AI are more worthwhile than crypto mining  —  Tech chief says the development of chatbots is a more worthwhile use of processing power than crypto mining
New York Times:
Filing: some Twitter source code was leaked by user “FreeSpeechEnthusiast” on GitHub, which removed the code to comply with Twitter's DMCA notice on March 24  —  The leak adds to the challenges facing the Elon Musk-owned company, which is trying to unmask the person responsible and any other people who downloaded the code.
Richard Milne / Financial Times:
Ammo maker Nammo says its growth is hit by a TikTok data center using all spare electricity, as energy demand from data centers and others grows in the Nordics  —  Norwegian group Nammo blames ‘storage of cat videos’ for threatening its growth as data centre corners spare electricity
Larry DiTore / The Block:
Filing: MicroStrategy bought 6,455 BTC for ~$150M from February 16 to March 23 at an average price of $23,238; the company now holds ~$4.14B worth of BTC  —  - MicroStrategy now has a little more than $4 billion worth of bitcoin in its corporate coffers.  —  MicroStrategy scooped …
Sources: Jack Ma returned to China after more than a year; sources: China Premier Li Qiang urged Ma to return since late 2022 to allay private sector fears  —  Alibaba (9988.HK) founder Jack Ma has returned to China, ending a stay overseas of more than a year that industry viewed as reflecting …
Sources: the Hong Kong arms of three Chinese state banks have reached out to offer services to crypto businesses in recent months, despite a mainland crypto ban  —  Crypto firms rushing into Hong Kong after the city opened its doors to the battered sector are finding a surprising source of potential support: China's state-owned banks.

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