Day: March 12, 2023

Tamping down crisis, feds guarantee Silicon Valley Bank depositor funds, which customers can access Monday
The U.S. government today interceded in the ongoing crisis caused by the collapse of Silicon Valley Bank on Friday by guaranteeing depositor funds and making them available to customers starting Monday. The bailout isn’t officially a bailout, even if it clearly is in part, given the government’s intervention. Treasury Secretary Janet Yellen claimed on Sunday

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U.S. vows to fully protect Silicon Valley Bank deposits, beyond FDIC limits, trying to reassure rattled tech startups


The Federal Deposit Insurance Corporation will “complete its resolution of Silicon Valley Bank in a manner that fully protects all depositors, both insured and uninsured,” the Federal Reserve Board announced Sunday afternoon as part of a broader plan to shore up the U.S. financial system following the bank’s sudden downfall. The move is meant in part to reassure startup leaders in Silicon Valley, Seattle, and elsewhere across hte country. Many of those tech leaders have spent the past four days scrambling for solutions after an extraordinary bank run, sparked by a loss of confidence in Silicon Valley Bank’s financial position,… Read More

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Investor on SVB collapse: ‘A crisis of confidence isn’t necessarily a crisis of fundamentals’


Editor’s note: GeekWire reached out to Will Canestaro, managing director of Washington Research Foundation and WRF Capital, on Friday to get his take on the impact of Silicon Valley Bank’s closure on biotech companies and the tech industry more broadly. His answer is below. SVB was a central and densely connected node in the startup and VC ecosystem. It can’t be easily pruned from the banking system without consequences for privately-held companies and the economy broadly. I’ve been receiving calls and emails all day and we’ve been assessing the exposure for our portfolio companies to SVB. For most early-stage and lower… Read More

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Accuweather app revamps forecasts in latest update, adds themed icon support on Android

Accuweather recently launched a new update to its mobile app across Android and iOS which revamps forecasts with a new graph view that provides easier access to information,

The post Accuweather app revamps forecasts in latest update, adds themed icon support on Android appeared first on Top Tech News.

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9to5Google Weekender: What we’re expecting from Google I/O 2023, and this week’s top stories

Now that we know when Google I/O 2023 will take place, here’s what we’re expecting to see at Google’s annual conference, along with our biggest stories of the past week.

The post 9to5Google Weekender: What we’re expecting from Google I/O 2023, and this week’s top stories appeared first on Top Tech News.

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