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California banking regulators on March 10 closed Silicon Valley Bank in the largest U.S. bank failure since the 2008 financial crisis. Kurt Gwynne, an attorney for the FDIC as receiver for Silicon Valley Bank, disputed at Tuesday's hearing that regulators had done anything improper. Destroyed SVB (Silicon Valley Bank) logo is seen in this illustration taken March 13, 2023. Glenn said he was prepared to allow SVB Financial to use up to $100 million for investment activity. Silicon Valley Bank was SVB Financial's largest asset, accounting for more than $15.5 billion of SVB Financial's $19.7 billion in total assets.

☆ Celsius Network remains open to other bids after NovaWulf offer
▼ + stars: | 2023-03-08 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

March 8 (Reuters) - Bankrupt crypto lender Celsius Network on Wednesday revealed that it was speaking to another potential buyer and will seek additional bids, despite having an offer in hand from asset manager NovaWulf Digital Management. Glenn agreed to give Celsius an extra three weeks to file a Chapter 11 plan. With NovaWulf's offer in hand, Celsius should be able to exit from bankruptcy by June, less than a year after it filed for Chapter 11, Koenig said. If Celsius chooses an alternate bidder, Koenig said, it intends to offer NovaWulf up to $20 million in breakup fees. "If there is a higher offer, it will be because of the floor set by NovaWulf," Koenig said.

☆ Voyager gets initial approval for $1 bln Binance deal amid national security concerns
▼ + stars: | 2023-01-11 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Jan 10 (Reuters) - Bankrupt crypto lender Voyager Digital received initial court approval on Tuesday for a proposed $1 billion sale of its assets to Binance.US, and said it will seek to expedite a U.S. national security review of the deal. He said Voyager intends to address any issues that would lead CFIUS to oppose the transaction. The Binance transaction includes a $20 million cash payment and an agreement to transfer Voyager's customers to Binance.US's crypto exchange, Sussberg said. Voyager estimates the sale will allow customers to recover 51% of the value of their deposits at the time of Voyager's bankruptcy filing. In addition to CFIUS, Voyager's proposed sale was also opposed by the U.S. Securities Exchange Commission and state securities regulators.

☆ The most ridiculous ways accused Capitol rioters got caught, from bad Bumble matches to an unbelievable Uber ride
▼ + stars: | 2023-01-02 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +13 min

Without further adieu: The least surprising ways Capitol rioters got caught. 2 accused rioters made big Bumble blundersThese accused rioters' reach for romance landed them in trouble with the law. Officials charged Alam with several counts last year and he pleaded guilty to all charges in December 2021, according to the Justice Department. An unbelievable Uber ride was this accused rioter's downfallAlleged defendant Jerry Daniel Braun was turned in by his get-away car driver, according to court documents. "Well, because, so we could get to the Capitol," Braun replied.

☆ A Texas superintendent ordered school librarians to remove LGBTQ books. Now the federal government is investigating.
▼ + stars: | 2022-12-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | Mike Hixenbaugh | ) www.nbcnews.com time to read: +11 min

The U.S. Education Department’s civil rights enforcement arm has launched an investigation into a North Texas school district whose superintendent was secretly recorded ordering librarians to remove LGBTQ-themed library books. The comments, combined with the district’s subsequent decision to remove dozens of library books pending a review, fostered a “pervasively hostile” environment for LGBTQ students, the ACLU wrote in its complaint. Last year, voters in Granbury elected a pair of school board members who campaigned against LGBTQ-affirming school curricula and library books. “These comments, combined with the book removals, really send a message to LGBTQ students in the districts that: ‘You don’t belong here. Lou Whiting, a student at Granbury High School, becomes emotional after speaking against the removal of LGBTQ books at a Granbury school board meeting in March.

☆ Condé Nast's CMO is exiting after 2 years of leading the company's marketing and consumer revenue business
▼ + stars: | 2022-12-09 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

Condé Nast CEO has lost its CMO, Deirdre Findlay, who spent two years in the role under CEO Roger Lynch. Condé Nast is looking to remake itself with new lines of business from events to membership businesses. Before joining Condé Nast in early 2019, Lynch was CEO of Pandora where Eisen had also been a corporate advisor. Condé Nast titles include Vogue, New Yorker, and Condé Nast Traveler. Hi All,As I shared in the CMO All Hands today, I have made the difficult decision to leave Condé Nast.

☆ Bankrupt crypto lender Celsius gets the go-ahead to hand out $2.8 million in bonuses to keep employees from quitting
▼ + stars: | 2022-12-06 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Celsius has secured court approval to hand out up to $2.8 million in employee bonuses, per Bloomberg. The payments are meant to keep staff at the crypto lender from quitting as it works to exit bankruptcy. Celsius has also asked the court to let it sell $18 million of user-deposited crypto to pay its bills. The bonuses will be paid to rank-and-file employees to keep operations running while Celsius works on exiting bankruptcy. The crypto lender is due to file a restructuring plan by February 15.

A decade-old scandal at a Massachusetts crime lab — which led authorities to dismiss tens of thousands of drug convictions — may involve wrongdoing by more people than was previously known, according to a recent court order. At least one person was referred to the state attorney general’s office in 2015 for potential prosecution, Judge John T. Lu wrote last week. The ruling stokes lingering doubts about statements by the state inspector general’s office over the past eight years that Dookhan was the “sole bad actor” at the Hinton lab. Bizuayehu Tesfaye / APDookhan’s misconduct at the Hinton lab was exposed in 2012, after she had worked there for nearly a decade. A spokesman for the inspector general’s office declined to comment, citing ongoing litigation.

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