From The Economist Espresso on March 11, 2023.
American regulators closed Silicon Valley Bank amid a run on the tech-focused lender. The Federal Deposit Insurance Corporation took control of SVB’s $175bn-worth of deposits and said insured depositors would have access to their money on Monday. America’s 16th-largest bank, having seen its deposits shrink during the VC winter, had failed to raise enough cash to stay afloat. The S&P 500 dipped by 1.5% on Friday to finish its worst week since September.
* * *
Signs of the stress at SVB were spilling over into other parts of the financial world late on Friday. The price of cryptocurrency USDC, a stablecoin which is pegged to the value of the dollar, fell to as low as $0.88. Circle, the payments company which manages USDC, confirmed that around $3.3bn of its $40bn in reserves was deposited with SVB.
20 Years of Olson Family Vacation
This weekend we are celebrating 20 years of Olson Family Vacations. In 2004 Tammy’s side of the family decided to have everyone get together for a long weekend, and that started the tradition that has been going on two decades now.
Every year the family responsible for finding a location and planning the weekend rotates, with everyone having hosted four vacations at this point.
To celebrate two decades of Olson Family Vacations we decided to make a special shirt for everyone.
The back of the shirt records the location of every vacation.
Of course we celebrated with a POAP as well!
“To be normal you have to be abnormal.” — Tyler
POAP 6436814 at I met nanderson.eth - March 2023.
Mazie and I enjoying the giant snowflakes earlier today. ❄️
Ekeko, a new artist on Nifty Ink, is a great example of what I dig about this site. It is like I get to see into the artists notebook and follow along in the creative process. Nifty Ink feels like going to a permanent Art Fair.
𝗪ƌ丅𝗲𝖱𝗠트𝐋ѺＮ
೭９ƽ¹９𝟩ꗉ
𝐋í𝗡ỵ𝙚ɽ𝗔
Aguantar
Related: my nnxyz collections Nifty Faces and NNOTB.
We watched A Man Called Otto tonight and everyone thought it was an incredible story and engaging acting. Didn’t want the movie to end when it was over. Recommended! 🍿
