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March 13, 2023, 3:00 PM
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memeorandum
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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 …
More:
Board of Governors …, The White House on YouTube, CNBC, FDIC, Circle, Stratechery, CNN, Bloomberg, CoinDesk, HotHardware, The Hill, PYMNTS.com, SVB Financial Group, Wired, GeekWire, DL News, Crunchbase News, Decrypt, National Review, Quartz, CryptoSlate, Blockworks, Wall Street Journal, Bitcoinist.com, Technical.ly, Rate of Return, NBC News, NFT Evening, Inside Bitcoins, DealStreetAsia, Axios, CNBC, Reuters, New York Post, CoinDesk, crypto.news, THE LOGUE, MediaNama, New York Times, Fortune, Coinpedia Fintech News, Coinspeaker, Bloomberg, Tech Startups, Cryptopolitan, Axios, NewsBTC, #OONO, Cryptonews, and CryptoPotato
LinkedIn:
Janet Mui and Dror Futter
Tweets:
@cz_binance, @potus, @bgarlinghouse, @coinbase, @potus, @jerallaire, @danielagabor, @nicktimiraos, @federalreserve, @vcbrags, @litcapital, @elaifresh, @octal, @jessicalessin, @neil_irwin, @samro, @bobeunlimited, @billackman, @federalreserve, @jasonfurman, @gavinsbaker, @chrisjbakke, @jason, @scottjshapiro, @fedguy12, @jimcramer, @danprimack, @macroalf, @gbildson, @burryarchive, @zck, @jeuasommenulle, @thestalwart, @danprimack, @cburniske, @cburniske, @modestproposal1, @trungtphan, @noahpinion, @texasvc, @levie, @tracyalloway, @ingridlunden, @mcuban, @ivanthek, @petercontibrown, @paulmitchell_ab, @stephanie_murr, @senwarren, @mbensass, @devahaz, @m_c_klein, @ian_fraser, @lizrhoffman, @robinbrooksiif, @jasonlk, @salehamohsin, @brendanpedersen, @whstancil, @stefeich, @vermontgmg, @chrisalbon, @charliebilello, @fedguy12, @gavinsbaker, @thebenbergman, @benedictevans, @tculpan, @salehamohsin, @wongmjane, @litcapital, @amlivemon, @anthonyrandazzo, @bgarlinghouse, @sarthakgh, @atrupar, @m_c_klein, @davidsacks, @kgreifeld, @jonatanpallesen, @deanobeidallah, @firstadopter, @mcwm, @axios, @billackman, @wendyedelberg, @davidmwessel, @mattyglesias, @donmoyn, @joelpollak, @tomfitton, @newtgingrich, @dsquareddigest, @neoavatara, @isadwatson, @karaswisher, @dylanleclair_, @lloydblankfein, @adamscochran, @chiweethegod, @shortsightedcap, @esaagar, @ericnewcomer, @anthony, and @jstein_wapo
| 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.
More:
Slate, Wall Street Journal, Kotaku, Wall Street Journal, and Financial Times
Tweets:
@billackman, @jason, @jason, @davidsacks, @zck, @billackman, @molly0xfff, @andrewrsorkin, @chimeracoder, @evanhill, @rachelensignwsj, @nic__carter, @davidsacks, @buccocapital, @thestalwart, @jason, @carlquintanilla, @repthomasmassie, @silvermanjacob, @jason, @balajis, @noahpinion, @maxkennerly, @danprimack, @dcwoodruff, @brooklynmarie, @chrismohney, @leehepner, @davidsacks, @jspujji, @bigblackjacobin, @pwnallthethings, @davidsacks, @verashokina, @dannypage, @davidsirota, @jathansadowski, @nglaros, @danteatkins, @galois_capital, @ddayen, @mattbinder, @jordanuhl, @nickcho, @jasondebolt, @gritgrowthcap, @thelincoln, @mattbruenig, @adamjohnsonnyc, @nicoleperlroth, @hoofnagle, @chafkin, @carnage4life, @logophobe, @paul_bowers, @nycsouthpaw, @mclendaniel, @antoniogm, @ryanlcooper, @pt, @mattdpearce, @carnage4life, @epicureandeal, @hblodget, @vittostack, @devahaz, @frances_coppola, @gumby4christ, @rohunjauhar, @davidsacks, @thelincoln, @carnage4life, @bigblackjacobin, @f_j_j_, @poordart, @sineados1, @lalehkhalili, and @vivekgramaswamy
| 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.
More:
Financial Times, BBC, Bank of England, TechCrunch, GOV.UK, Bloomberg, HSBC, BetaKit, The Guardian, The Guardian, Cointelegraph, Silicon Valley Business …, UKTN, The Register, LinkedIn, The Economic Times, The Information, Reuters, gHacks Technology News, Crowdfund Insider, Bloomberg, CNBC, Inside Bitcoins, Axios, Politico, CNN, Coinpedia Fintech News, The Times, ABC News, Cryptonews, Micky, New York Times, CoinDesk, Tech Monitor, City A.M., Tech in Asia, PYMNTS.com, crypto.news, Cryptopolitan, Forbes, Dow Jones Newswires, Silicon Canals, Watcher Guru, CoinJournal, ComputerWeekly.com, and Bitcoinist.com
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, @arashmassoudi, @nickmacpherson2, and @bondhack
| 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
More:
Monomythical and Bloomberg
LinkedIn:
Bo Ren. Tweets:
@modestproposal1, @johnthornhillft, @edsuh, @jpm25, @aphclarkson, @stianwestlake, @macconwell, @flying_mom, @samirkaji, @rachaelrad, @dsquareddigest, @antoinegara, @dee_bosa, and @sarthakgh
| 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.
More:
r/Android on Reddit, HotHardware, AppleInsider, 9to5Google, MacRumors, and The Register
Tweets:
@halidecamera, @fchollet, @raphaelmilliere, @supersaf, @sdw, @chrislintott, @somegadgetguy, @adrianhon, @halidecamera, @adrianhon, and @uwukko
| 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
| CNBC: |
New York shuts down Signature Bank as US regulators cite a “systemic risk exception” like for SVB, announcing all of Signature's depositors will be “made whole” — U.S. regulators said Sunday it shut down New York-based Signature Bank, a second financial institution …
More:
FDIC, Reuters, Department of Financial …, The Block, Gizmodo, Wall Street Journal, New York Times, CBS News, Decrypt, Bloomberg, PYMNTS.com, The Block, Politico, Neowin, Watcher Guru, Apricitas Economics, crypto.news, Cointelegraph, Blockworks, MarketWatch, The Guardian, Financial Times, VentureBeat, Inside Bitcoins, Coinspeaker, Crypto Daily, Livemint, and Bitcoin News
Tweets:
@jchervinsky, @hfangca, @melt_dem, @josephzeballos, @twobitidiot, @thestalwart, @okcoin, @fdicgov, @davidkurten, @leehower, @tbr90, and @arjunsethi
| 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 and Coinspeaker
Tweets:
@coinbase, @twobitidiot, @tracyalloway, @timccopeland, @hsakatrades, @mayazi, @0xquit, @kamikaz_eth, @lyu_johnny, and @johnreedstark
| MacKenzie Sigalos / CNBC: |
| 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:
BleepingComputer, Cointelegraph, TechCrunch, Decrypt, Bloomberg, DataBreachToday.com, Cryptopolitan, crypto.news, Ethereum World News, SecurityWeek, and Cryptonews
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
| CNBC: |
First Republic Bank's stock drops 60%+, after declining 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.| 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, and Insider
Tweets:
@aparanjape, @chafkin, @dinabass, @dinabass, @rustybrick, and @brianroemmele
| Fortesa Latifi / Teen Vogue: |
A YouTuber who went viral as a toddler says she resents her family for monetizing her childhood, as some influencer parents take their children off social media — “Nothing they do now is going to take back the years of work I had to put in.” — Search Claire's name online … Sponsor Posts
Google:
Gemini 2.5 Pro: Our most intelligent AI model — Gemini 2.5 Pro (experimental) is now available, with thinking capabilities, enhanced performance, and improved accuracy. Try it at no cost in the Gemini app.
Gemini 2.5 Pro: Our most intelligent AI model — Gemini 2.5 Pro (experimental) is now available, with thinking capabilities, enhanced performance, and improved accuracy. Try it at no cost in the Gemini app.
UiPath:
UiPath Unveils 10 Innovations that Will Shape the Agentic Future — Orchestration engine, API workflows and agentic testing among key features of new UiPath Platform™ for agentic automation, launched at UiPath DevCon 2025
UiPath Unveils 10 Innovations that Will Shape the Agentic Future — Orchestration engine, API workflows and agentic testing among key features of new UiPath Platform™ for agentic automation, launched at UiPath DevCon 2025
Zoho:
How EQ plays a defining role in workplace communication — What if everyone you worked with had a psychic ability to understand how you're feeling and respond accordingly? Wouldn't that be great?
How EQ plays a defining role in workplace communication — What if everyone you worked with had a psychic ability to understand how you're feeling and respond accordingly? Wouldn't that be great?
IDrive:
Protecting your Cloud Applications Data — Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.
Protecting your Cloud Applications Data — Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.Featured Podcasts
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Debunking Healthcare's Biggest Myths with Zach Weinberg and Derek Thompson
A podcast hosted by Logan Bartlett, an investor at Redpoint Ventures, covering tech with industry insiders.
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Supabase's Paul Copplestone on the difference between "playing startup" and strategy
A podcast from Accel about how companies are built, from the people doing the building.
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Did Apple get too big for its own good? With Daring Fireball's John Gruber
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Qualtrics, Reuters, Barron's Online, Tech Startups, CRN, CNBC, CIO.com, GeekWire, Silicon Republic, and TechCrunch. Tweets:
@antoinegara