Techmeme
March 27, 2023, 11:40 AM

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.
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.
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
Bloomberg:
The US Commodity Futures Trading Commission sues Binance and its CEO CZ for allegedly breaking trading and derivatives rules  —  Binance Holdings Ltd., the world's largest cryptocurrency exchange, and Chief Executive Officer Changpeng Zhao, were sued by the US Commodity Futures Trading Commission …
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 …
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
Bloomberg:
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.
Reuters:
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 …
Simon Sharwood / The Register:
The French government bans TikTok and all other recreational apps from staff phones, claiming none have sufficiently robust security for government devices  —  Meanwhile the US contemplates drastic action  —  The government of France has banned TikTok - and all other recreational apps - from phones issued to its employees.

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