March 13, 20230CommentsSignature’s closure means real-time payment platform Signet is no longer serving crypto clients, following Silvergate’s SEN; BTC is up ~7% and USDC regains peg (MacKenzie Sigalos/CNBC)
March 13, 20230CommentsFirst Republic Bank says it has shored up its finances with additional funding from the US Fed and JPMorgan Chase, giving the bank $70B in unused liquidity (Rachel Louise Ensign/Wall Street Journal)
March 13, 20230CommentsA developer runs Meta’s 13B LLaMA model, considered to be competitive with GPT-3, on his laptop, showing local language models are feasible on consumer hardware (Simon Willison/Simon Willison’s Weblog)
March 12, 20230CommentsNew 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” (CNBC)
March 12, 20230CommentsThe US Treasury, Federal Reserve, and the FDIC: all Silicon Valley Bank depositors will be “fully” protected, and their money will be available on March 13 (U.S. Department of the Treasury)
March 12, 20230CommentsSources: US officials are considering the extraordinary step of protecting all uninsured SVB deposits, if the FDIC is unable to find a buyer for the failed bank (Washington Post)
March 12, 20230CommentsSources: regional banks are the likeliest bidders to prevail in the sale process for Silicon Valley Bank, not “too big to fail” banks like JPM or BoA (Lauren Tara LaCapra/The Information)
March 12, 20230CommentsMultifactor authentication: Keeping employee data secure through digital ID management