|
March 11, 2023, 10:50 AM
|
Mediagazer
memeorandum
WeSmirchTop News
| Frank Chaparro / The Block: |
Circle says $3.3B of ~$40B USDC reserves remain at Silicon Valley Bank and it will follow guidance provided by state and federal regulators — - After being largely silent on Friday, Circle said it has $3.3 billion in exposure to Silicon Valley Bank, which collapsed earlier in the day and was placed in FDIC receivership.
More:
CoinDesk, Cointelegraph, Metaverse Post, Wu Blockchain, CoinGape, NewsBTC, ZyCrypto, Coinpedia Fintech News, and Coinmonks
Tweets:
@circle, @binance, @circle, @unusual_whales, @cryptowendyo, @edzitron, @asvanevik, and @michaeljordaan
| Bloomberg: |
Coinbase says it is “temporarily pausing” conversions of USDC into USD during the weekend; USDC traded at ~$0.90 as investors reacted to Circle's SVB exposure — The second-largest stablecoin in crypto fell from its intended $1 peg on Saturday, trading as low as 81.5 cents … | Krisztian Sandor / CoinDesk: |
Circle's USDC sees $1B in net redemptions since SVB's shutdown and has lost its $1 peg, after Circle said SVB is one of six banks managing USDC cash reserves — Stablecoin issuer Circle held an undisclosed amount of USDC's cash reserves at now-failed Silicon Valley Bank.
More:
TechCrunch, Bloomberg, Fortune, Crypto Daily, CoinGape, CryptoGlobe, Bitcoinist.com, Cryptopolitan, Artemis Big Fundamentals …, Slashdot, and Watcher Guru
Tweets:
@circle, @0xfoobar, @1markmoss, @silvermanjacob, @smtuffy, @northrocklp, @autismcapital, @epro, @mikeburgersburg, @alice_comfy, and @chainlinkgod
| TechCrunch: |
How startup founders are reacting to Silicon Valley Bank's collapse, as some worry about frozen funds, operating expenses, and paying employees full salaries — Engineers at Polymath Robotics were working late Wednesday night on multiple projects when co-founder and CEO Stefan Seltz-Axmacher noticed chatter …
More:
Bloomberg, The Information, Insider, CNBC, U.S. Department …, Axios, CNBC, TechCrunch, The Information, and Forbes
| Todd Spangler / Variety: |
Filing: Roku held ~26% of its $1.9B in cash and equivalents at SVB, “largely uninsured”, and says the remaining amount will be sufficient for at least 12 months — About one-fourth of Roku's cash and equivalents — nearly half a billion dollars — has been held in Silicon Valley Bank …
More:
SEC.gov, CNBC, Insider, CNN, Bill, Engadget, Deadline, Mercury News, and Silicon Valley Business …
Tweets:
@mollypriddy, @stephennellis, @xpangler, @devincow, @adamblevine, and @mikeisaac
| Sarah Wynn / The Block: |
Filing: crypto lender BlockFi, which filed for bankruptcy protection in November 2022, has $227M in uninsured funds in Silicon Valley Bank — - Crypto lender Blockfi has millions in uninsured funds because the cash is a money market mutual fund, according to a bankruptcy document filed on Friday.
More:
Cryptonews, crypto.news, and Global Community Weekly
Tweets:
@laurenshirsch, @frances_coppola, @justafamilyman_, and @bowtiedbull
| Dan Primack / Axios: |
More:
Financial Times and Exit Fuel 🛢️
Tweets:
@danprimack, @pitdesi, @danprimack, @nmasc_, @mims, @georgenhammond, @alexjamesfitz, @besttrousers, @davidmwessel, @bcmerchant, @stevematthews12, @carnage4life, @rabble, and @axios
| Lizette Chapman / Bloomberg: |
More:
New York Times, The Information, and Insider
| Matt Levine / Bloomberg: |
As the “Bank of Startups”, Silicon Valley Bank collapsed from its exposure to interest-rate risk, a lack of diversity among depositors, and VC herd mentality — Programming note: Money Stuff was supposed to be off today, but: bank run! — SVB
More:
CNBC, CNN, Fortune, Financial Times, BBC, The Economist, Reuters, Wall Street Journal, Vox, Washington Post, Inc42 Media, TechSpot, CoinGape, The Economic Times, Livemint, Andrew's Substack, Silicon Canals, and Noahpinion
Tweets:
@garrytan, @htaneja, @altcap, @garrytan, @billackman, @davidsirota, @fttechnews, @gilbertjasono, @eisingerj, @mattocko, @darrenpjones, @bobeunlimited, @alex_kirshner, @thebenbergman, @jbarro, @jessicalessin, @carlquintanilla, @autismcapital, @menlobear, @stilichoreads, @vinnylingham, @thestalwart, @trengriffin, @amtvmedia, @mckonomy, @dicktofel, @alistairmbarr, @amazzara1, @moorehn, @momblogger, @drdenagrayson, @taylorlorenz, @dancow, @gergelyorosz, @mattrosoff, @pkafka, @rakeshlobster, @mckonomy, @annmlipton, @silviakillings, and @walthickey
| Austin Weinstein / Bloomberg: |
Filing: SVB investors and depositors tried to pull $42B on March 9; the bank had a negative cash balance of $958M on March 9, per an order for taking possession — Investors and depositors tried to pull $42 billion from Silicon Valley Bank on Thursday in one of the biggest US bank runs … | CNBC: |
California regulators close SVB and name the FDIC as the receiver to protect insured deposits; SVB ended 2022 with ~$209B in assets and $175.4B in deposits — Financial regulators have closed Silicon Valley Bank and taken control of its deposits, the Federal Deposit Insurance Corp. announced Friday …
More:
FDIC, Wall Street Journal, New York Times, The Lever, Bloomberg, The i Paper, Bank of England, Blockworks, Financial Times, Fortune, CoinDesk, Associated Press, The Wrap, ZeroHedge, CNBC, Coinpedia Fintech News, TechCrunch, Financial Times, The Information, The Verge, Dr. Hans Substack, Los Angeles Times, Sifted, Raising the Bar, and JAG Capital Partners …
Mastodon:
@briankrebs@infosec.exchange and @kkomaitis@techpolicy.social
Tweets:
@parkerconrad, @repswalwell, @grdecter, @bhargreaves, @bhargreaves, @roshanpatei, @lulumeservey, @fdicgov, @thestalwart, @tier10k, @unusual_whales, @tier10k, @robblackwellab, @ericnewcomer, @cramertracker, @davidsirota, @apatelthompson, @alistairmbarr, @oneunderscore__, @nikitabier, @balajis, @garrytan, @alexandrascaggs, @wallstcynic, @justinwolfers, @zerohedge, @shaig, @thetranscript_, @ellebeyoud, @cz_binance, @davidsirota, @alexrkonrad, @xenollamas, @watcherguru, @brendanpedersen, @sama, @ericnewcomer, @tracyalloway, @dancow, @nytimesbusiness, @jeffjohnroberts, @jsrailton, @bendwalsh, @jasonzweigwsj, @unusual_whales, @eve6, @bondhack, @teroterotero, @autismcapital, @espiers, @davidfrum, @mollyjongfast, @katienotopoulos, @jeffbercovici, @cryptadamist, @buccocapital, @danprimack, @twobitidiot, @zachweinberg, @alistairmbarr, @amir, @jessicalessin, @taylorlorenz, @brendanpedersen, @business, @modestproposal1, @mikeisaac, @erikvoorhees, @cate_long, @karlbode, @kevinyun, @charlesarthur, @maxkennerly, @kendrawrites, @anthony, @lexnfx, @decloet, @lulumeservey, @josephpolitano, @antoniogm, @twobitidiot, @goldman, @anthony, @max_fisher, @pkedrosky, @bhargreaves, @sifill_, @nycjim, @asanwal, @immad, @jamestitcomb, @ellenhuet, @sruhle, @regulatorynerd, @cloud_opinion, @ericnewcomer, @fvogelstein, @jp_koning, @taylorlorenz, @mikeisaac, @bhargreaves, @jamesgrickards, @johnpaczkowski, @mikebutcher, @jgreco, @cfarivar, @nickatfp, @justinwolfers, @onebandwagonfan, @justinwolfers, @andrewyang, @scobleizer, @sarthakgh, @applehelix, @jordanschachtel, @brendanpedersen, @jamespmcleod, @acityinohio, @stevenkelly49, @bamabonds, @parkerconrad, @danprimack, @lifescivc, @thebondfreak, @gunjanjs, @52kskew, @donmiami3, @byclairew, @wideofthepost, @hhorsley, @thresh, @smtuffy, @bucknsf, @litcapital, @brianroemmele, @jcoviedo6, @parikpatelcfa, @jasondebolt, @seawolfcap, @thetranscript_, @pinboard, @edzitron, @shaig, @eperlste, @jason, @davetroy, @adamscochran, @adamscochran, @jonwu_, @bhargreaves, @grdecter, @luke_metro, @iwriteok, @flying_mom, @functi0nzer0, @thebondfreak, @kiarichards_, @zosegal, @adamscochran, @chriscamillo, @packym, @jamesclayton5, @jenwieczner, @bhargreaves, @growing_daniel, @lopp, @shaig, @elidourado, @dkthomp, @sullycnbc, @0xc0le, @arlanwashere, @fdicgov, @chopracfpb, @oxdeadbeef_, @nickadobos, @heylizelle, @arrington, @adamscochran, @pt, @modestproposal1, @scobleizer, @msuster, @msuster, @kashhill, @cjc, @stshank, @ciovaccocapital, @jeffreyatucker, @business, @nicoleperlroth, @luke_broyles, @deepakshenoy, and @hannahdlang
| Marc Rubinstein / Net Interest: |
More:
Financial Times, Nongaap Investing, Louder Vic!, and Bloomberg
| Lorenzo Franceschi-Bicchierai / TechCrunch: |
How the FBI proved that NetWire was a remote access trojan malware and not a remote admin tool, leading to the seizure of the website selling the malware — On Thursday, the U.S. government announced that it had seized a website used to sell malware designed to spy on computers and cellphones.
More:
Krebs on Security, Department of Justice, and SecurityWeek
Tweets:
@lorenzofb, @patrickwardle, and @malwarejake
| Giovanni Colantonio / Digital Trends: |
A look at Sumplete, a game ChatGPT claimed it “invented” after being prompted to create Sudoku-like puzzles and is identical to at least one other mobile game — ChatGPT can add another job to its résumé: game developer. With just a few simple prompts from a user …
More:
Sumplete, Puzzled's Substack, Insider, and Gizmodo
Tweets:
@marioprime, @tomchivers, @andrewmartonik, @marioprime, @dannyrichman, @marcosbl, and @psythor
| James Vincent / The Verge: |
LinkedIn's decision to publish posts written with the help of AI to provoke discussions is a milestone and may herald the start of semiautomated social networks — It makes sense that LinkedIn would be the first major social network to push AI-generated content on its users. The Microsoft-owned company is weird.
More:
gHacks Technology News. Tweets:
@adamsinger, @marywareham, @carnage4life, @jjvincent, and @jonlamart
Sponsor Posts
Meta:
Open Source AI: Available to all, not just the few — Meta's open source AI enables small businesses, start-ups, students, researchers and more to download and build with our models at no cost.
Open Source AI: Available to all, not just the few — Meta's open source AI enables small businesses, start-ups, students, researchers and more to download and build with our models at no cost.
Tribe AI:
Build AI products that matter — Tribe AI helps organizations rapidly deploy AI solutions that have real business impact. We bring together world class AI talent and tooling to drive differentiated results.
Build AI products that matter — Tribe AI helps organizations rapidly deploy AI solutions that have real business impact. We bring together world class AI talent and tooling to drive differentiated results.
Zoho:
5 common accounting mistakes — This is a guest post by Yaali Bizappln Solutions. A lot of businesses manage their customers and finances on separate platforms. This disconnect often leads to missed invoices …
5 common accounting mistakes — This is a guest post by Yaali Bizappln Solutions. A lot of businesses manage their customers and finances on separate platforms. This disconnect often leads to missed invoices …
Hamming:
Make AI Voice Agents trustworthy — Hamming AI automatically tests AI voice agents and continuously monitors them in production.
Make AI Voice Agents trustworthy — Hamming AI automatically tests AI voice agents and continuously monitors them in production.Who's Hiring In Tech?
Techmeme Ride Home:
(BNS) Brian's Appearance On Daily Detroit
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via
Apple Podcasts,
Spotify, or
RSS.
About This Page
This is a Techmeme archive page. It shows how the site appeared at 10:50 AM ET, March 11, 2023.
The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.
From Mediagazer
Peter White / Deadline:Eliav Breuer / Jerusalem Post:
Jonathan Stempel / Reuters:
Upcoming Tech Events
Earlier Picks
| Chris Stokel-Walker / Wired: |
More:
BetaNews. Tweets:
@marshallk, @sparklingruby, @pbjost, @chrismessina, @_subnet, @marshallk, @gusthema, @wearytolove, @epro, @viditb, @0mgould, @ryanmaue, and @stokel. Thanks:@stokel
| Casey Newton / Platformer: |
More:
Washington Post and Techdirt
Mastodon:
@Gargron@mastodon.social and @mike@flipboard.social
Tweets:
@deepsekharc, @deepsekharc, @epro, and @chafkin