U.S. Moves to Fully Backstop SVB, Signature Depositors
Regulators aim their moves at stemming panic in the financial system.
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Regulators Shut Signature Bank
The bank was one alternative that crypto companies were increasingly looking to use after Silvergate Bank's collapse
SVB Securities Execs Look to Buy Back Bank’s Investment Arm
Jeff Leerink and management team are looking to help finance a potential management buyout of SVB's investment arm.
Stablecoin Issuer Circle Reveals $3.3 Billion Exposure to Silicon Valley Bank
The price of USDC, which is meant to stay at 1 USD, fell to less than 92 cents Friday evening before recovering slightly.
Silicon Valley Bank Experienced $42 Billion in Attempted Withdrawals
The bank was left with a negative cash balance of about $958 million after depositors rushed to pull funds, according to a regulatory filing.
Meta Layoffs Expected to Begin Next Week
The cuts will reportedly involve shutting down certain teams and projects.
Roku, Roblox and Others Disclose Exposure to Silicon Valley Bank
Roku, Roblox and EyePoint Pharmaceuticals disclosed they have cash tied up at Silicon Valley Bank as the ripples of the bank's collapse spread.
Group Black Offers $400 Million for Vice Media
The offer values Vice Media at well below one times' 2022 revenue, in the same valuation range as where Vox Media recently raised money.
Silicon Valley Bank Fails, Deepening Uncertainty for Startups and VCs
A wide range of startups and VCs in both the U.S. and China relied on the SVB for banking services.
Allbirds Says Q1 Revenue to Fall Up to 28%, Shares Plunge
The direct-to-consumer brand said that it would refocus on its core consumer amid declining sales growth.
Oracle Shares Dip 5% Despite Cloud Growth, Ellison Touts AI Deals
Oracle CEO says investors can expect to see more major cloud deals like Uber in the coming quarters.
Disney’s Iger on Hulu, Streaming: “Not Everybody Is Going to Win”
Disney CEO Bob Iger said the company is closely studying Hulu's potential in a "tricky" streaming market before it decides to buy or sell the service.
Silicon Valley Bank Stock Plunges 60% Amid Panic
SVB's stock drop reflects anxieties about its heavy exposure to tech startups.
FTX to Sell Sequoia Stake to Al Nawwar Investments for $45 Million
Alameda Ventures originally committed $100 million for the stake in March 2022, of which Sequoia has called roughly $50 million.
Dutch Government Plans New Restrictions on Chip Technology Exports
The Netherlands' move comes after the U.S. government last year announced sweeping new restrictions on chip technology exports to China.
Silicon Valley Bank Stock Plunges
Shares slide more than 30% after hours as SVB tries to shore up its financial position
Cloud Cost Control Startup Vantage Raises $21 Million
Vantage, co-founded by veteran cloud industry product managers, is getting more attention from investors for handling
Stripe’s Fundraise to Reach $6 Billion
Stripe is wrapping up its funding round with an eye-popping total: $6 billion.
Uber Considers Spinning Off Freight Business
A spin-off would concentrate Uber on its better known ride-hailing and food delivery operations.
Silvergate Bank to Wind Down Operations and Liquidate
Silvergate had been a top bank for crypto companies, and its struggles have sent crypto startups scrambling to find a new bank.
Weekday mornings
The Information AM by The Information Staff
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