● CZ: The banking system is constantly trapped in a cycle of bankruptcy, and it is very difficult for new banks to be allowed to compete in the market
Changpeng Zhao (CZ), founder and CEO of Binance, tweeted: “Every decade or so, a group of banks fail. We bail them out, and then we get into a cycle where the cost is higher each time. Meanwhile, it’s very difficult for new banks (pending approval) to be allowed to compete in the market, and they are required to operate in exactly the same way as failed banks. Is this really a free market?”
● Amazon will lay off another 9,000 employees
In a memo to employees on Monday, CEO Andy Jassy said another 9,000 layoffs will be made in the coming weeks. The layoffs are in addition to previously announced layoffs that began in November and continued into January, affecting more than 18,000 employees. The latest round of financing will mainly affect Amazon's cloud services (AWS), human resources, advertising and Twitch live broadcasting businesses. (CNBC)
● DeFiLlama: There is currently no plan to issue LLAMA Tokens. Any airdrops will be discussed with the community.
The official Twitter account of DefiLlama, an on-chain data analysis website, posted: Due to miscommunication and misunderstandings within the team, the DeFiLlama team apologizes for the recent events. There is currently no plan to issue LLAMA Tokens, and any future airdrops will be discussed with the community, as will every important decision. The team will take steps to operate in a more transparent manner to ensure that this does not happen again. All departments of Llama Corp will continue to work with each other to develop open and transparent solutions for the decentralized world we love so much.
● FDIC extends Silicon Valley Bank's transition bank bid deadline to March 24
The Federal Deposit Insurance Corporation (FDIC) plans to solicit bids for Silicon Valley Private Bank by March 22. The FDIC will allow separate bids for Silicon Valley Bank Transition Bank and Silicon Valley Private Bank to expand the pool of potential bidders. The deadline for bids for Transition Bank is 8 p.m. Eastern Time on March 24. (Jinshi)
● Flagstar Bank: The transaction to acquire part of Signature Bank’s assets does not include crypto business
Flagstar Bank, a subsidiary of New York Community Bancorp, confirmed that its acquisition of certain assets and assumption of certain liabilities of Signature Bank Transition Bank does not include any digital assets, crypto-related assets or deposits. Signature Bank's digital payment platform Signet is also not included in the transaction. Last night, the U.S. Office of the Comptroller of the Currency approved Flagstar Bank's acquisition of certain assets and assumption of certain liabilities of Signature Bank Transition Bank. The transaction includes the purchase of a loan portfolio with a total value of $12.9 billion and the assumption of $34 billion in deposits. (TechCrunch)
● Bernstein Research: Banking turmoil provides a perfect environment for crypto development, and the recent rally may be driven by "crypto native funds"
Wall Street investment bank Bernstein pointed out in its latest research report that the financial market has experienced severe turmoil in the past week after a series of bank failures, which has made DeFi stand out as an alternative and provided a perfect environment for the continued development of the cryptocurrency market. Bernstein said that institutional funds and cryptocurrency funds have been bystanders in the market, and the recent price trend is driven by "crypto native funds." As more and more external funds are forced to participate, the upward trend should become more intense. (CoinDesk)