Washington Post: Interviews with 20 people detail the Biden admin’s response to SVB’s and Signature’s collapse, as tech executives and investors lobbied to protect all deposits  —  It seemed like a simple question: Did the treasury secretary have any concerns about the economic risks posed by Silicon Valley Bank? Lees verder op Tech Meme

Bloomberg: Sources: US prosecutors were investigating Signature’s work with crypto clients before regulators seized the bank, including over detecting money laundering  —  US prosecutors were investigating Signature Bank’s work with crypto clients before regulators suddenly seized the lender this past weekend … Lees verder op Tech Meme

Adam Morgan McCarthy / The Block: Arkham: net redemptions of Circle’s USDC reached $4.5B since March 10, including a single $723M redemption that was later burnt, after Signature and SVB fell  —  – USDC redemptions reached $6.2 billion since Friday.  — In the same period, around $1.7 billion was minted, taking net redemptions to $4.5 billion. Lees verder op Tech Meme

Debby Wu / Bloomberg: Foxconn reports Q4 revenue down 10% YoY to ~$64.5B and $1.3B net income, slightly below estimates, and forecasts slumping consumer electronics demand in 2023  —  Hon Hai Precision Industry Co. reported profit that fell just shy of expectations and offered a cautious outlook for this year. Lees verder op Tech Meme

Emily Flitter / New York Times: A profile of Tim Mayopoulos, named by the FDIC as the CEO of Silicon Valley Bridge Bank, who was BofA’s general counsel during the 2008 financial crisis  —  The F.D.I.C. named Tim Mayopoulos as chief executive of Silicon Valley Bridge Bank.  His job is to keep calm and carry on. Lees verder op Tech Meme

Dan Taylor / Tech.eu: Zürich-based Verity, which offers autonomous inventory management drones to logistics providers, retailers, and manufacturers, has raised a $32M Series B  —  The Swiss company plans to use the capital to speed up the rollout of its autonomous inventory drone system to meet a growing backlog of deployments. Lees verder op Tech Meme

Yusuf Mehdi / Bing Blogs: Microsoft says the new Bing is “running on GPT-4, which we’ve customized for search” and was using an early version of the model over the past five weeks  —  Congratulations to our partners at Open AI for their release of GPT-4 today.  —  We are happy to confirm that the new Bing … Lees verder op Tech Meme

Devin Coldewey / TechCrunch: The Be My Eyes app for the visually impaired integrates GPT-4, which can inspect and describe images, through a Virtual Volunteer feature in closed beta  —  OpenAI has introduced the world to its latest powerful AI model, GPT-4, and refreshingly the first thing they set the new system to was helping people with visual impairments. Lees verder op Tech Meme