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‘Trust is a hard thing to earn’: SVB’s closure could disproportionately affect Black founders

‘Trust is a hard thing to earn’: SVB’s closure could disproportionately affect Black founders

Dakotah Rice, the founder of investing platform Poolit, was sitting on his couch Thursday watching CNBC as he does every morning. Then, his phone started ringing — and didn’t stop. “I started getting texts and calls from my investors saying, ‘Look, you should move your money out of Silicon Valley Bank, something’s going on there,’”…

Kakao to close Tapas Entertainment Korean office next month as part of a restructuring

Kakao to close Tapas Entertainment Korean office next month as part of a restructuring

Kakao Entertainment, owned by South Korean tech giant Kakao, will shut down the Korean branch of Tapas Entertainment, the U.S.-headquartered storytelling platform, next month.  Kakao Entertainment told TechCrunch that it plans to close the Korean office as part of a restructuring effort to zero in on the company’s North American and other global units. The…

FDIC Will Protect All Silicon Valley Bank Deposits After Sudden Collapse, Treasury Says

FDIC Will Protect All Silicon Valley Bank Deposits After Sudden Collapse, Treasury Says

Share to FacebookShare to TwitterShare to LinkedinTopline Federal regulators will safeguard all deposits at Silicon Valley Bank, including money that isn’t normally covered by federal deposit insurance, the Treasury Department announced Sunday evening, a rare and sweeping move designed to prevent the tech-focused bank’s rapid collapse from infecting the rest of the U.S. financial system.…