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March 13, 2023, 6:05 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 …, CNBC, FDIC, Circle, The White House on YouTube, Bloomberg, CRN, CNN, Stratechery, VICE, Above Avalon, CoinDesk, Insider, The Motley Fool, The Atlantic, PYMNTS.com, Wired, HotHardware, The Hill, Fortune, CryptoSlate, Wall Street Journal, National Review, ZyCrypto, NBC News, Quartz, CNBC, Axios, Bitcoinist.com, Crunchbase News, Inside Bitcoins, CoinDesk, GeekWire, NFT Evening, New York Post, Bitcoin News, MediaNama, New York Times, Technical.ly, Decrypt, Coinspeaker, Tech Startups, Rate of Return, Cryptopolitan, NewsBTC, Blockworks, #OONO, Cryptonews, and CryptoPotato
LinkedIn:
Janet Mui and Dror Futter
Tweets:
@cz_binance, @potus, @bgarlinghouse, @coinbase, @potus, @jerallaire, @danielagabor, @federalreserve, @nicktimiraos, @litcapital, @jessicalessin, @elaifresh, @octal, @samro, @neil_irwin, @bobeunlimited, @billackman, @jasonfurman, @federalreserve, @gavinsbaker, @jason, @scottjshapiro, @fedguy12, @jimcramer, @danprimack, @chrisjbakke, @macroalf, @gbildson, @burryarchive, @jeuasommenulle, @zck, @modestproposal1, @trungtphan, @noahpinion, @semil, @thestalwart, @tracyalloway, @levie, @petercontibrown, @mcuban, @ivanthek, @texasvc, @stephanie_murr, @senwarren, @mbensass, @devahaz, @m_c_klein, @ian_fraser, @robinbrooksiif, @jasonlk, @salehamohsin, @brendanpedersen, @whstancil, @stefeich, @vermontgmg, @cburniske, @charliebilello, @fedguy12, @gavinsbaker, @ingridlunden, @thebenbergman, @benedictevans, @danprimack, @salehamohsin, @wongmjane, @litcapital, @cburniske, @anthonyrandazzo, @bgarlinghouse, @sarthakgh, @atrupar, @m_c_klein, @davidsacks, @kgreifeld, @jonatanpallesen, @deanobeidallah, @firstadopter, @mcwm, @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.
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Slate, Wall Street Journal, Kotaku, Vox, Wall Street Journal, and Financial Times
Mastodon:
@lauren@mastodon … and @ernie@writing.exchange
Tweets:
@jason, @billackman, @jason, @davidsacks, @zck, @billackman, @chimeracoder, @rachelensignwsj, @andrewrsorkin, @molly0xfff, @silvermanjacob, @evanhill, @carlquintanilla, @repthomasmassie, @davidsacks, @jason, @buccocapital, @thestalwart, @nic__carter, @balajis, @jason, @noahpinion, @noahpinion, @maxkennerly, @chrismohney, @leehepner, @davidsacks, @jspujji, @bigblackjacobin, @pwnallthethings, @davidsacks, @verashokina, @brooklynmarie, @dannypage, @davidsirota, @jathansadowski, @nglaros, @ddayen, @jordanuhl, @nickcho, @jasondebolt, @gritgrowthcap, @thelincoln, @dcwoodruff, @mattbruenig, @adamjohnsonnyc, @nicoleperlroth, @chafkin, @logophobe, @paul_bowers, @nycsouthpaw, @mclendaniel, @antoniogm, @ryanlcooper, @pt, @carnage4life, @epicureandeal, @hblodget, @vittostack, @devahaz, @frances_coppola, @gumby4christ, @rohunjauhar, @thelincoln, @danprimack, @bigblackjacobin, @f_j_j_, @poordart, 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.
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Bank of England, BBC, TechCrunch, HSBC, Bloomberg, The i Paper, SiliconANGLE, PYMNTS.com, The Guardian, BetaKit, Cointelegraph, PitchBook, LinkedIn, Reuters, The Economic Times, UKTN, CoinJournal, Cryptonews, Micky, gHacks Technology News, crypto.news, Cryptopolitan, Forbes, Crowdfund Insider, The Register, and Inside Bitcoins
LinkedIn:
Caroline Hepker and Rishi Sunak
Tweets:
@jeremy_hunt, @cetier1, @hmtreasury, @jamestitcomb, @wublockchain, @danielkorski, @justin_cash_1, @samgyimah, @loomdart, @daniburgz, @bondhack, @benedictcooney, @richardgrahamuk, @georgewparker, @checkwarner, @michelledonelan, @mjrobbins, @ibrahimsaninet, @douglas4moray, @bandrew, @georgewparker, @nigel_farage, @suzanneashman, @lisaabramowicz1, @thetranscript_, @jespow, @mayazi, @jamestitcomb, @edconwaysky, @drsdeg, @paulbranditv, @justin_cash_1, and @arashmassoudi
| Michael Moritz / Financial Times: |
A eulogy for Silicon Valley Bank, a business partner to tech for 40 years that worked with startups when bigger banks wouldn't and paid a price for 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
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Monomythical and Bloomberg
| Michael Flaherty / Axios: |
More:
SVB Financial Group, TechCrunch, Crunchbase News, New York Times, and CNBC
Tweets:
@deitaone and @cgasparino
| 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.
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r/Android on Reddit, HotHardware, PetaPixel, Redmond Pie, 9to5Google, SlashGear, and The Register
Tweets:
@halidecamera, @fchollet, @raphaelmilliere, @sdw, @chrislintott, @somegadgetguy, @adrianhon, @halidecamera, @adrianhon, and @uwukko
| Kate Clark / The Information: |
Sources: Y Combinator will not raise another Continuity Fund, which backs late-stage startups, and the two partners who led the fund plan to leave the company — Silicon Valley startup accelerator Y Combinator won't raise another continuity fund, which backs mature private tech companies, two people familiar with the matter said.| 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.
Tweets:
@dimensionmedia
| 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:
Cointelegraph, Decrypt, Gizmodo, Bloomberg, 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
| Adam Morgan McCarthy / The Block: |
Meta says it is winding down its work on NFTs “for now” to focus on other ways of supporting creators, people, and businesses — - Meta is ditching its NFT efforts, for now, according to executive Stephane Kasriel. — Meta is ditching its pursuit of NFTs as the company looks to prioritize …
More:
TechCrunch, Reuters, and BuzzFeed News
Tweets:
@skasriel, @skasriel, @samfbiddle, @skasriel, @skasriel, @skasriel, @sergitosergito, @lakoz_, @merts_eth, @jebus911, @nickstatt, @ryy_wills, and @tier10k
| STAT: |
Insurers are using unregulated predictive algorithms to pinpoint the precise moment when they can plausibly cut off payment for the treatment of older patients — An algorithm, not a doctor, predicted a rapid recovery for Frances Walter, an 85-year-old Wisconsin woman with a shattered left shoulder and an allergy to pain medicine.
Tweets:
@statnews, @michaelhoffman, @statnews, @dancow, @statnews, @manas8u, and @helenbranswell
| 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, Cloud Computing Services, WinBuzzer, BGR, Digital Trends, and Insider
Tweets:
@dinabass, @dinabass, @dinabass, @rustybrick, @brianroemmele, and @aparanjape
| CNBC: |
First Republic Bank's stock drops 61.83%, after falling 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.
More:
San Francisco Business Journal, PYMNTS.com, VICE, Financial Times, and Payments Dive. LinkedIn:
Andrea Lisi
| Bloomberg: |
The end of SVB, Silvergate, the Silvergate Exchange Network, and Signature adds more stress to the crypto industry; fiat conversion costs may rise by 20% to 40% — The digital-asset market is coming off of a turbulent year featuring a number of high-profile blowups.
More:
Bloomberg, Decrypt, PYMNTS.com, CryptoPotato, Financial Times, and Coinspeaker
Tweets:
@coinbase, @twobitidiot, @tracyalloway, @timccopeland, @hsakatrades, @mayazi, @0xquit, @kamikaz_eth, and @lyu_johnny
| MacKenzie Sigalos / CNBC: |
| CNBC: |
More:
Reuters, FDIC, Department of Financial …, The Block, Gizmodo, Bloomberg, CBS News, CoinDesk, New York Times, Apricitas Economics, Bitcoin News, The Block, Neowin, CoinGape, MarketWatch, Cointelegraph, Coinspeaker, Inside Bitcoins, PYMNTS.com, Watcher Guru, Decrypt, Crypto Daily, VentureBeat, and crypto.news
Tweets:
@hfangca, @jchervinsky, @melt_dem, @josephzeballos, @twobitidiot, @thestalwart, @okcoin, @fdicgov, @davidkurten, and @tbr90
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