Circle’s USDC has an undisclosed part of its $9.8 billion cash reserves at the now collapsed Silicon Valley Bank

Circle’s USDC, the second largest stablecoin with $43 billion market capitalization, has an undisclosed part of its $9.8 billion cash reserves at the now collapsed Silicon Valley Bank, per CoinDesk. According to Circle’s January reserve report, the firm held some $9.88 billion of cash deposited at

Before the collapse of Silicon Valley Bank, $SIVB, the CEO sold $3.57 million of stock within the last two weeks

Before the collapse of Silicon Valley Bank, $SIVB, the CEO sold $3.57 million of stock within the last two weeks. These were part of the 10-51-b plan. Silicon Valley Bank has collapsed, the largest bank since 2008. Silicon Valley was the 16th largest bank in the US,

Silicon Valley Bank has collapsed, the largest bank since 2008

Silicon Valley Bank has collapsed, the largest bank since 2008. Silicon Valley was the 16th largest bank in the US, holding $210 billion in assets. ilicon Valley Bank CEO Greg Becker gave a statement trying to calm investors and entrepreneurs on Thursday afternoon. The company didn't open for

debt default

US debt default chances this year have more than tripled

Per NYP Analysts at MSCI estimate that the probability of the US heading into debt default has over tripled this 2023. This comes as Congress has struggled to reach a new deal regarding its debt ceiling. On February 24, the probability of a US debt default sat at 11.3%

META

Meta is toying with the possibility of creating a Twitter app competitor

Per Reuters Meta is looking at possibly creating another standalone app to compete with Twitter. The app would be a decentralized social network allowing users to share text updates. A Meta spokesperson gave a statement to Reuters through an email sharing that they believe that there is an opportunity for

Elon Musk

Elon Musk looks to build a functional town for Tesla staff in Texas under 'Project Amazing'

Per Business Insider Elon Musk has been known to live in the offices of some of his companies, like Texas or, recently, Twitter. New development revealed that the CEO plans to build a whole town for his staff in Texas. The project will be called Project Amazing, first reported by

silicon valley bank

Silicon Valley Bank CEO says 'My ask is to stay calm because that’s what is important' as stock halted after another 60% drop

Per CNBC Silicon Valley Bank CEO Greg Becker gave a statement trying to calm investors and entrepreneurs on Thursday afternoon. The company didn't open for trading at 9:30 after its shares dropped by 62% premarket trading. Becker: “My ask is to stay calm because that’s what

emergency

Emergency savings of less than half of US adults dropped from a year ago

Per BI Almost half of Americans decreased their emergency savings accounts from a year ago compared to today. A new survey by Bankrate which took place from January 20 to January 23, found that 39% of participating US adults have seen a drop in their emergency savings. The Bankrate survey

"U.S. housing market is crumbling under the weight of higher mortgage rates and rock-bottom affordability," per MarketWatch

"U.S. housing market is crumbling under the weight of higher mortgage rates and rock-bottom affordability," per MarketWatch. Most US mortgages are at rates below 4%, per also Bloomberg. Notably, as well, Reuters states that the US housing market isn't going to see a 2008-

Most US mortgages are at rates below 4%

Most US mortgages are at rates below 4%, per Bloomberg. Notably, as well, Reuters states that the US housing market isn't going to see a 2008-sized crash. Analysts expect home prices to decline by a modest 4.5% this year, and to fall 10% from their peak

Investment firms Citadel Securities and BlackRock recently took major stakes in Silvergate

Investment firms Citadel Securities and BlackRock recently took major stakes in Silvergate, buying up 5.5% and 7%, respectively. Yesterday, Silvergate Capital said it would wind down operations, and liquidate Silvergate bank. The firm has served as one of two main banks for the crypto industry, along with Signature Bank.

Michael Burry has said: it is possible today we found our Enron

Michael Burry has said: it is possible today we found our Enron. On Jan 31, in his first tweet since coming back to Twitter, Michael Burry has written to simply: sell. Previously, Michael Burry said that though inflation may be receeding, investors should prepare for a spike in the future.

Silicon Valley Bank, $SIVB, CEO has said to investors: "stay calm and don’t panic"

ilicon Valley Bank, $SIVB, CEO has said to investors: "stay calm and don’t panic," per NYP. Today, $SIVB is down nearly 60% today. The flow on $SIVB has been bearish for a while, since at leas Feb 15th. Check the opening flow alerts from this morning. People

JPMorgan, JPM, must hand over CEO Dimon's records in Jeffrey Epstein lawsuit

JPMorgan, $JPM, must hand over CEO Dimon's records in Jeffrey Epstein lawsuit. JPMorgan, $JPM, has said it should not be held liable for a former top executive’s relationship with Jeffrey Epstein in a lawsuit accusing the largest U.S. bank of facilitating its former client’s sex

larry mcdonald

'The Bear Trap Report' founder Larry McDonald expects stock market crash in 60 days

Per Business Insider The founder of "The Bear Trap Report," Larry McDonald, shared his thoughts on the stock market, expecting it to crash in 60 days. He expects a 30% drop in the next two months as investors were starting to favor bonds over equities. In a statement

gen z

Almost half of Gen Z employee income comes from two roles

Per Kantar Kantar estimated that almost half of Gen Z employee income comes from a combination of at least two roles. Only 21% of Boomers were likely to have over one position. It was also revealed that 65% of Gen Z workers either had or would consider a side job.

fundstrat

Fundstrat says stocks have shown good performance despite hawkish Feds

Per Business Insider Fundstrat recently argued that despite a hawkish Fed, stocks have shown that they are still able to perform well. They expect stocks to not be crushed should the Fed continue to raise interest rates. Fundstrat's head of research, Tom Lee, shares how stocks could still

adidas

Adidas lost $540 million after Q4 loss after split from Kanye West: Company struggles to sell Yeezy

Adidas has struggled to sell Yeezy products since its split with Kanye West, leading to a net loss of $540 million. The fourth-quarter loss contrasted with the company's $225 million profits in Q4 a year ago. The company expects to incur over a $740 million operating loss

bill gates

Bill Gates argues that climate change won't be fixed by requesting that people no longer eat meat

Per CNBC Bill Gates has recently shared his thoughts on climate change, saying that it won't change by asking people to no longer eat meat. Gates shared that innovation for new and better solutions is needed instead of stopping meat consumption. A 2021 study by the Nature Food

Powell is asked to answer a "yes or no" question on whether the Fed will pause rate increases

Powell is asked to answer a "yes or no" question on whether the Fed will pause rate increases. Powell: "I don’t do yes or no." Yesterday, Powell  said: New data suggests “the ultimate level of rates is likely to be higher than previously anticipated"

Elon Musk has said Twitter's finances are improving to the point that it could return to positive cash flow next quarter

Elon Musk has said Twitter's finances are improving to the point that it could return to positive cash flow next quarter. Recently, Twitter begun applying for regulatory licenses across the US and designing the software required to introduce payments across the social media platform, per FT. The integration

World Wrestling Entertainment, $WWE, is in talks with state gambling regulators to legalize betting on scripted match results

World Wrestling Entertainment, $WWE, is in talks with state gambling regulators in Coloardo and Michigan to legalize betting on scripted match results, per CNBC. WWE is working with EY, commonly known as Ernst & Young, to secure match results so they won’t leak to the public. WWE creative executives

Silvergate Capital to wind down operations, and liquidate Silvergate bank

Silvergate Capital to wind down operations, and liquidate Silvergate bank. The firm has served as one of two main banks for the crypto industry, along with Signature Bank. All deposits will be fully repaid, according to a liquidation plan shared on Wednesday. “In light of recent industry and regulatory developments,

Biden's new tax plan

There is a new budget that Biden has proposed. It includes: * Biden’s new budget has proposed tax on income over $400,000 at 39.6%. * The plan would increase the net investment income tax to 5%, from 3.8%, for earnings of more than $400,000, including regular income,

salesforce

Salesforce is adding ChatGPT to Slack to help draft replies

Per The Verge Salesforce, the owner of Slack, has just launched ChatGPT in Slack to help users write replies to colleagues. Users can use OpenAI's chatbot through their Slack app to help draft replies instead of manually making replies. The Salesforce announcement revealed how the chatbot would help