SVB draws support from 300+ VC firms, including General Catalyst, while 1,200+ founders and CEOs sign a Y Combinator petition asking the US Congress to act
More than 100 venture capital and investing firms have signed a statement supporting Silicon Valley Bank, part of mounting industry calls …
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
an unsecured illiquid claim on a failed bank. Absent @jpmorgan @citi or... https://twitter.com/... Bob Elliott / @bobeunlimited : Fed/FDIC decisions on SVB determine whether they risk a bank run trill...
Founders fear that the collapse of SVB, which had branches in the UK, Canada, China, Germany, India, Israel, and more, could wipe out startups around the world
Because startups that banked with SVB don't have access to their funds … Manish Singh / TechCrunch : Silicon Valley Bank collapse is impacting many Indian startups Philip Elmer-DeWitt / Philip Elmer‑D...
How startup founders are reacting to Silicon Valley Bank's collapse, as some worry about frozen funds, operating expenses, and paying employees full salaries
'The Silicon Valley Bank (SVB), a leading lender to startups and venture capitalists … Bloomberg : Khosla Ventures Tells Some Startups Firm Will Cover Payroll South China Morning Post : China joint ve...
Circle says $3.3B of its ~$40B USDC reserves remain at Silicon Valley Bank and that the crypto payments firm will follow state and federal regulators' guidance
- After being largely silent on Friday, Circle said it has $3.3 billion in exposure to Silicon Valley Bank …
US Treasury Secretary Janet Yellen on SVB: we are trying to meet the needs of depositors, but are not looking to bail out investors and owners of large banks
The following is a transcript of an interview with Treasury Secretary Janet Yellen that aired on “Face the Nation” on Sunday, March 12, 2023.
Sources: the FDIC is racing to sell SVB's assets and make 30% to 50% or more of clients' uninsured deposits available as soon as Monday
US regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion of clients' uninsured deposits available …
SVB's implosion leads to finger-pointing and factionalism, as crypto advocates blame centralized banking and investors argue crypto collapses led to the crisis
Silicon Valley Bank's Collapse Sparks Finger-Pointing and Concerns of Contagion Mastodon: Jeff Horwitz / @Jhorwitzz@mastodon.online : Could be my small network, but this platform seems to be doing a l...
Coinbase and Binance temporarily suspend conversions of USDC; USDC depegged and traded at ~$0.90 as investors reacted to Circle's SVB exposure
Bloomberg :
Sources: Tim Cook is pressing ahead with the MR headset debut this year, overruling designers' objections, and Apple expects to sell ~1M units in the first year
New launch will be first steered entirely by CEO and under direction of operations team — When Tim Cook unveils Apple's new …
Sources: the UK is seeking a buyer for the British arm of SVB, which had ~£7B in deposits on Friday, with an UAE-based company as the “lead white knight”
‘Lead white knight’ eyeing British arm of tech lender that had billions in deposits
Meta says it plans to block Canadians' ability to view or share news content on Facebook and Instagram if the country's proposed Online News Act becomes law
Marie Woolf / Globe and Mail :
Worried that cloud giants offer concentrated targets, the US plans to regulate the security practices of cloud providers like Amazon, Microsoft, and Google
Governments and businesses have spent two decades rushing to the cloud — trusting some of their most sensitive data to tech giants …
Sources: some hedge funds are offering to buy startups' deposits at SVB for 60 to 80 cents on the dollar; filing: ~96% of deposits as of Dec. 31 were uninsured
Hedge funds are offering to buy startups' deposits stranded at Silicon Valley Bank for as little as 60 cents on the dollar …
More than a bailout, SVB needs a white knight, someone who can come in and take over the bank that has been at the heart of the US innovation economy
After three decades of being part of the Silicon Valley ecosystem — as a reporter, writer, entrepreneur, and investor — I thought I had seen it all.
In an email to sellers, Etsy warns that the SVB collapse is causing delays in processing payments; one seller says it would be “catastrophic” for his business
Etsy is warning sellers that the collapse of Silicon Valley Bank on Friday is causing delays in processing payments …
Filing: crypto lender BlockFi, which filed for bankruptcy in November 2022, has $227M in uninsured funds in SVB; BlockFi may have violated US bankruptcy law
which could be a prblm w/ keeping in compliance of bankruptcy law https://twitter.com/... @justafamilyman_ : BlockFi is the gift that keeps on giving and not in a good way. This is a mess of epic prop...
A look at the unusually high executive turnover at Apple, which has lost 11 key people just below the Senior VP level, since the second half of 2022
Apple is facing an unprecedented wave of executive departures. Also: The company will shake up its sales operations with a focus on India …
A look at Bring a Trailer, a classic car blog from 2007 that became a marketplace, facilitated $1.37B in 2022 sales, and held its 100,000th auction on March 7
Bring a Trailer is where obsessives buy, sell and geek out over classic cars. The company pops open its hood after 100,000 auctions to explain why.
An interview with Gowalla co-founder and CEO Josh Williams as he re-launches his location-based social networking app at SXSW, 14 years after its debut
Darrell Etherington / TechCrunch : Tweets: @jw Tweets: @jw : TechCrunch covered the launch of my very first startup in 2006, and of course thoroughly covered the Check-In Wars of 2010. It makes me sm...
Roblox and other companies disclose their exposure to SVB in SEC filings; Roblox says ~5% of its $3B cash and securities balance was at SVB as of February 28
Sarah Perez / TechCrunch :
Twitter is in decline and less stable under Elon Musk, echoing LiveJournal and Tumblr falling apart under new ownership that didn't understand their communities
Gita Jackson / The Verge : Tweets: @chrismessina , @speedriver_ , and @delunaelizabeth . Thanks: @ants000 Tweets: Chris Messina / @chrismessina : “Twitter is in a period of decline. The site still fu...
Brazil is seizing shipments of Flipper Zero, a $169 portable security penetration testing tool for wireless devices, due to its alleged use in criminal activity
Bill Toulas / BleepingComputer : Tweets: @leyrer Tweets: @leyrer : “Brazil seizing Flipper Zero shipments to prevent use in crime” Those who not understand technology are bound to ban it. #heretics #...
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