Friday☕️

Mar 10, 2023 • 3 min read

Trending:

Markets/Economies:

Silicon Valley Bank (SIVM):

Silicon Valley Bank experienced a loss of $1.8 billion due to the sale of U.S. treasuries and mortgage-backed securities it invested in as interest rates increased. This caused the stock price to fall 60% in one day.
Additionally, the bank is dealing with reduced customer deposits, as its customer base is primarily startups.
Silicon Valley Bank has decided to raise funds to protect its business. It plans to sell $1.25 billion of common stock to investors, $500 million of convertible preferred shares, and $500 million of common stock to private equity firm General Atlantic.

Cartels:

Five men were found bound with zip ties in a truck near the site where four Americans were kidnapped (2 of the 4 were killed) last week in Matamoros, a Mexican border city.
Authorities reported that a note was found claiming to be from the Gulf Cartel, expressing the desire to hand over those responsible for the abductions.
The letter stated: "We have decided to turn over those who were directly involved and responsible in the events, who at all times acted under their own decision-making and lack of discipline."

The Twitter Files: