March 11, 20230CommentsCircle says $3.3B of ~$40B USDC reserves remain at SVB and invites users to participate in the USDC gift distribution to make for the negative market sentiment (Frank Chaparro/The Block)
March 11, 20230CommentsCircle’s USDC sees $1B in net redemptions since SVB’s shutdown and is slightly depegged, after Circle said SVB is one of six banks managing USDC cash reserves (Krisztian Sandor/CoinDesk)
March 11, 20230CommentsFiling: crypto lender BlockFi, which filed for bankruptcy protection in November 2022, has $227M in uninsured funds in Silicon Valley Bank (Sarah Wynn/The Block)
March 11, 20230CommentsQ&A with Xerox CEO Steve Bandrowczak on the company’s 100+ year history, printing, IT services, automation, the Palo Alto Research Center, CareAR, M&A, and more (Nilay Patel/The Verge)
March 11, 20230CommentsFiling: 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 (Todd Spangler/Variety)
March 10, 20230CommentsSources: Meta plans multiple rounds of layoffs over the coming months that in total would be roughly the same magnitude as its ~13% cut in November 2022 (Wall Street Journal)