The banking crisis sparked by the collapse of Silicon Valley Bank “is not yet over,” according to J.P. Morgan CEO Jamie Dimon, who criticized the Federal Reserve’s stress-testing regime for failing to probe the impact of higher interest rates that led to SVB’s undoing and government attempts to prevent further runs on the regional banking sector. “Resolution and recovery regulations did not...
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Apple’s New Headset Makes Meta Look Like AR’s BlackBerry
Apple may have just BlackBerried Meta Platforms’ Quest devices. Apple’s presentation of its mixed-reality headset, the Vision Pro, on Monday seems likely to spell the beginning of the end for Meta’s ambitions in augmented reality and virtual reality. Remarkably, given the endless amounts of media coverage devoted to this device over the past couple of years, Apple’s presentation felt...
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MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.
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