The Weekend Shift: Stablecoins, Bank runs, Grifters

Welcome to the 109th Weekend Shift!

What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write about.

OK, only crypto? Not necessarily. We do that Monday to Friday, so we try to explore new subjects on weekends.

Feel free to join in and submit entries on Twitter. Any topic is fair game.

March 11

28 mins ago

Starting off

20 mins ago

19 mins ago

Seems appropriate.

19 mins ago

17 mins ago

Not looking great.

17 mins ago

Silicon Valley Bank is one of six banking partners Circle uses for managing the ~25% portion of USDC reserves held in cash. While we await clarity on how the FDIC receivership of SVB will impact its depositors, Circle & USDC continue to operate normally.https://t.co/NU82jnajjY
— Circle (@circle) March 10, 2023

Quick maths.

17 mins ago

Per new bankruptcy filing, BlockFi has $227m in Silicon Valley Bank. The bankruptcy trustee warned them on Mon that bc those funds are in a money market mutual fund, they’re not FDIC secured — which could be a prblm w/ keeping in compliance of bankruptcy law pic.twitter.com/hnpo8anrrS
— Lauren Hirsch (@LaurenSHirsch) March 10, 2023

16 mins ago

NEW: 🔥Silicon Valley Bank UK boss just held a call with some of the London VC community. She would not comment on the US situation, but said there was no comingling of funds. 💷Source expects financials for UK will be released over next couple of days.
— Katie Prescott (@kprescott) March 10, 2023

16 mins ago

Nice one.

16 mins ago

We’re used to it by now.

15 mins ago

To show more humility and respectfulness I’ve deactivated my Instagram account.
— Richard Heart (@RichardHeartWin) March 7, 2023

Hmmm, very strange timing to show humility.

15 mins ago

ICYMI

ICYM this too.

12 mins ago

On @CNBC, Y-Combinator CEO @garrytan said that Silicon Valley Bank’s failure is a “national security issue”
— Anthony DeRosa (@Anthony) March 10, 2023

JUST IN
9 mins ago

JUST IN
8 mins ago

Headline of the week.

JUST IN
8 mins ago

JUST IN
7 mins ago

Oh, there’s more.

This post will be updated throughout the weekend. For more informed news, follow us on Twitter and Google News or subscribe to our YouTube channel.

Source: https://protos.com/weekend-shift-stablecoins-bank-runs-grifters/