Going Viral.Imagine a world free of viruses and degenerative diseases.Whether it’s Covid, RSV, or stroke, ground-breaking research has been done to make history of these ailments, but it’s time to commercialize.Enter Bioxytran , a clinical-stage pharma company on a mission to eliminate viruses and prolong lifespans.*
Silicon Valley Bank filed for Chapter 11 bankruptcy this morning.
I thought the FDIC backstopped their $173 billion in deposits? I guess that wasn’t enough.Uh-oh!
3/16/23
After a meeting of the minds (read: Jamie Dimon and Janet Yellen), First Republic Bank is getting a much-needed shot in the arm .A group including JPMorgan, Citigroup, BofA, Morgan Stanley, and Goldman Sachs—as well as 6 others—are passing around the basket to collect and inject $30 billion into the struggling lender to help alleviate market panic.
Across the pond, the European Central Bank (ECB) stuck to its guns , looked past the banking drama, and delivered a 50bps rate hike.The decision—which surprised many who expected a more dovish move in light of recent events—projects the ECB’s confidence in Credit Suisse’s rescue.
Back in the US, housing starts and building permits jumped unexpectedly in February, rising by 9.8% and 13.8%, respectively.
Driving the increases were a drop in mortgage rates and an improvement in homebuilder sentiment, which has kicked off its December lows.
On Tuesday, we noted the recent flight to safety among investors.In the week ending this Wednesday, those same investors poured more than $120 billion into US money market funds , including the single biggest day of inflows ever on Tuesday.
Move over Mr.Clippy, Microsoft Office is getting an upgrade .The tech giant announced the technology behind ChatGPT will be integrated into its Word, PowerPoint, Excel (and so on) products over the coming months.
With the end of the first quarter approaching, analysts have turned their attention to Q2.With the percentage of buy ratings below the 5-year average and the percentage of sell and hold ratings above the 5-year average, the overall outlook is pessimistic relative to history.
With WTI crude on pace for its worst week of the year and Brent prices falling some 15% in just over a week, oil markets have felt the shock of the recent banking drama .OPEC+, however, is in no hurry to step in: the cartel is taking a wait-and-see approach and will likely act only after the Fed’s monetary policy decision on March 22.
Meanwhile, despite its commitment to replenish the Strategic Petroleum Reserve (SPR), the White House is not rushing to take advantage of lower prices .
At just over 371 million barrels, the SPR is at its lowest level in nearly 40 years.
LEGN 0.00 Legend Bio
XPEV 0.00 Xpeng
AQN 0.00 Algonquin Power
DLO 0.00 Dlocal
Insiders : Two months before shares tanked, First Republic bank executives sold $7 million worth of stock.
Tiger : Venture capital firm Tiger Global has erased $23 billion in value from its portfolio after marking down its portfolio companies by some 33%.
Xi goes to Russia : Chinese President Xi will make his first visit to Russia in nearly 4 years to hold talks with Vladimir Putin.
Icahn : Activist investor Carl Icahn is urging the Fed to look beyond recent bank failures and continue its aggressive battle against the “disease of inflation”.
Drone footage : The Pentagon released the video of a Russian fighter jet dumping fuel on one of its unmanned drones.
3/16/23 Shanghai : Developers have set an official target date of April 12 for Ethereum’s Shanghai hard fork.
USDT : Amid the chaos surrounding Silicon Valley Bank, Tether has extended its lead with a market cap now nearly double that of its rival stablecoin, USDC.
Gensler : SEC chairman Gary Gensler has reiterated his belief that proof-of-stake tokens could be considered securities as per the Howey Test.
Mining : Crypto miner Marathon Digital posted a 58% YoY drop in revenue in Q4 and a 26% overall decline for 2022.
FDIC : The Federal Deposit Insurance Corporation has denied a Reuters report which claimed the agency would force potential buyers of Signature Bank to “give up” the lender’s crypto activities.
GOAT : Michael Jordan is exploring a sale of his majority stake in the NBA’s Charlotte Hornets.
WeRestructure : After posting a bigger-than-expected Q4 loss, WeWork is nearing a major financial restructuring deal it hopes will elevate not only its consciousness but its profitability too.
Adult entertainment : In a seemingly contradictory move given its name, Ethical Capital Partners has acquired…Pornhub?
Gas stations : Couche-Tard will acquire European petrol stations from TotalEnergies in a $3.3 billion deal.
Eyewear : Indian eyewear startup Lenskart has raised $500 million at a $4.5 billion valuation.
Grit Capital @Grit_Capital Current state of the global banking system
9:17 PM ∙ Mar 15, 2023 1,351 Likes 232 Retweets
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