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Signature Bank is the second casualty of the ongoing banking crisis in the U.S. The New York-based financial institution stopped operating abruptly on Sunday — customers will be made whole. Regulators said that Signature Bank also caused a systemic risk and could threaten the U.S. banking system. In other words, the government is stepping up […]

After SVB failure, regulators close crypto-friendly bank Signature Bank by Romain Dillet originally published on TechCrunch

Over the last three years, Ho Chi Minh City-based Medigo has grown to 500,000 active users by providing 24/7 one-demand prescription delivery services. Now it’s planning to grow its telehealth ecosystem with $2 million in new funding by East Ventures, with participation from Pavilion Capital and Touchstone Partners. The new capital will allow Medigo to […]

Medigo’s app makes prescription deliveries available 24/7 in Vietnam by Catherine Shu originally published on TechCrunch

As Silicon Valley Bank collapsed before our eyes on Thursday, a founder told me that the world felt like it did when COVID-19 first bared its teeth. I scoffed at his analogy at first: are we really using a still on-going and devastating pandemic to describe the fall of a prominent bank? But then I […]

Silicon Valley’s surreal weekend by Natasha Mascarenhas originally published on TechCrunch

Global payroll provider Deel plans to provide $120 million of its own cash off its balance sheet to support startups’ payroll operations in the wake of Silicon Valley Bank shutting down. It has teamed up with Andreessen Horowitz (a16z) and Y Combinator – both of which are investors in Deel – to offer the support […]

Deel makes over $120M of its own cash available to support customers affected by SVB crisis by Natasha Mascarenhas originally published on TechCrunch

The Federal Reserve issued a joint pair of statements on Sunday with one clear message: Silicon Valley Bank’s depositors, both insured and uninsured, will receive help in a manner that will “fully protect” all. Depositors, the statement reads, “will have access to all of their money starting Monday, March 13. No losses associated with the […]

Silicon Valley Bank’s depositors will be fully protected, according to the Federal Reserve by Natasha Mascarenhas originally published on TechCrunch

Two of tech’s biggest entrepreneurs, OpenAI CEO Sam Altman and storied venture capitalist Vinod Khosla, are offering personal capital to startups on the brink of SVB collapse as their money remains locked up at Silicon Valley Bank. The bank, which was shut down and taken over by regulators on Friday, is involved with nearly half […]

Sam Altman, Vinod Khosla say they’ll personally loan cash to startups in the wake of SVB collapse by Natasha Mascarenhas originally published on TechCrunch