Techmeme
March 10, 2023, 12:55 PM

Top News

CNBC:
Jesse Pound / CNBC:
Sources: SVB Financial, parent of Silicon Valley Bank, is in talks to sell itself after attempts to raise capital failed  —  SVB Financial , parent of Silicon Valley Bank, is in talks to sell itself, sources told CNBC's David Faber.  Attempts by the bank to raise capital have failed …
Financial Times:
Silicon Valley Bank launches a $2.25B share sale after losing ~$1.8B on its ~$21B of US Treasuries and mortgage-backed securities  —  Technology-focused lender suffered loss on $21bn portfolio of Treasuries and mortgage-backed securities  —  Silicon Valley Bank has launched a $2.25bn share sale …
Erin Woo / The Information:
Some VC firms are encouraging their portfolio companies to pull funds out of Silicon Valley Bank while others are advising startups to keep no more than $250K  —  Silicon Valley Bank CEO Greg Becker on Thursday told top venture capitalists in Silicon Valley to “stay calm” …
Lizette Chapman / Bloomberg:
Email: VC firm Greenoaks warned founders of potential problems at SVB in November 2022; a source says over 12 portfolio companies withdrew ~$1B in recent months  —  Venture investment firm Greenoaks Capital Partners warned its startup founders of potential problems at SVB Financial Group's Silicon Valley Bank …
Casey Newton / Platformer:
Meta is exploring a standalone decentralized social network for sharing text updates; the app, codenamed P92, will reportedly let users log in with Instagram  —  Is this the Twitter replacement we've been waiting for? … Twitter's decline is paving the way for other platforms to build next-generation replacements.
Filipe Espósito / 9to5Mac:
Kuo: Apple plans to unveil a redesigned HomePod with a built-in 7-inch display in H1 2024, enabling tighter integration with Apple's other hardware products  —  Apple this year introduced a new HomePod that looks exactly like the original model announced in 2017 and discontinued in 2021.
Arjun Kharpal / CNBC:
Bitcoin falls ~8% to ~$19,900, a near two-month low, and ether falls 8%+ to ~$1,400, after a selloff of US stocks, rising interest rates, and troubles at SVB  —  - Bitcoin fell below $20,000 on Friday hitting a near-two month low after a stock market sell-off in the U.S.
CoinDesk:
New York's AG sues KuCoin, alleging the Seychelles-based crypto exchange offers tokens, such as ETH, that meet the definition of a security, without registering  —  A press release said the lawsuit was part of ongoing “efforts to crack down on unregistered cryptocurrency platforms.”
Financial Times:
Sources: after lobbying by Apple, Foxconn, and others, India's Karnataka state will allow two-shift production and 12-hour shifts, similar to practices in China  —  Lobbying in Karnataka leads to landmark legislation that anticipates iPhone production in southern state
Ben Jiang / South China Morning Post:
Sensor Tower: Chinese game developers accounted for 40 of the world's top 100 mobile game publishers by revenue in February, bringing in ~$1.85B  —  Chinese video game developers including Shanghai-based miHoYo, the studio behind Genshin Impact , accounted for 40 of the world's top 100 mobile games publishers …

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Bloomberg:
Sarah Perez / TechCrunch: