Fed raises rates by 25 bps to 4.75% - 5.00%

Top stories today: 1) Fed raised rates by 25 bps, but markets are not buying hawkishness, 2) Yellen says no plans for full FDIC insurance, 3) SEC to sue Coinbase, sues Justin Sun, 4) FTX recovers another $500M+ from VC investments, and 5) Microsoft launches Notion competitor Loop.

Fed expected to raise rates by 25 bps to 4.75% - 5.00%

Top stories today: 1) Fed expected to raise rates by 25 bps, 2) Google disappoints with Bard AI launch, 3) Microsoft integrates DALL-E into Bing, 4) Adobe launches Firefly AI in beta, and 5) TikTok spy scandal erupts as CEO testifies on Thu.

Treasury studying extension of FDIC insurance to all bank deposits

Top stories today: 1) FDIC might insure all deposits ($117B cost), 2) JPM could buy out First Republic, 3) Microsoft wants to launch app store in 2024, and 4) Runway announces text-to-video Gen-2.

UBS buys Credit Suisse for $3B

Top stories today: 1) UBS buys CS for $3B, 2) Fed announces more global USD liquidity, 3) this Wed: FOMC meeting, 4) this Thu: TikTok CEO testifies, to announce 150M U.S. MAUs, 5) Balaji makes $1M BTC bet, and 6) Trump says he will be arrested on Tue.

Microsoft announces generative AI coming to 365 Suite

Top stories today: 1) Microsoft announces AI in 365 Suite, 2) Banks loan $30B to First Republic Bank, and 3) Fed balance sheet jumps $300B, reversing quantitative tightening.

Alameda Research $1.1B+ in new creditor claims and FTX identifies $3.2B in transfers to founders and insiders

Top stories today: 1) Alameda has $1.1B in new creditors, 2) FTX gave $3.2B to insiders, 3) Swiss central bank lends $54B to Credit Suisse, 4) Government looking to auction SVB and Signature by Fri, and 5) Microsoft AI event today at 11 AM ET.

BREAKING: Alameda Research has at least $1.1B in new creditor claims

OpenAI launches GPT-4; API cost 60x more than ChatGPT

Top stories today: 1) OpenAI launches GPT-4, 2) Anthropic launches Claude, 3) Gmail and Docs adding AI, 4) Adept raises $350M, and 5) CPI drops to 6.0%.

March 14, 2023

Top stories today: 1) FDIC tries another SVB auction as markets react strongly, 2) Meta halts NFTs, 3) Microsoft lays off AI ethics team, likely to announce GPT-4 on Thu, 4) Stanford releases Alpaca AI, and 5) at 8:30 AM ET, CPI is expected at 6.0%.

March 13, 2023

Top stories today: 1) Federal government to guarantee all SVB, Signature deposits, 2) Fed will buy banks' bonds at par, 3) Aramco profits $161B in 2022, 4) Biden approves $7B Arctic oil project, and 5) dividend stocks are yielding less than short-term Treasuries.

March 10, 2023

Top stories today: 1) SVB is likely insolvent, 2) Meta is working on a decentralized social network, 3) Biden's budget has 44.6% capital gains tax, 4) but it would still raise debt-to-GDP to 179%, and 5) Trump likely to be criminally charged in NY.

March 9, 2023

Top stories today: 1) Sam Altman invested $180M in Retro Bio, 2) Silvergate to shut down, 3) VC funding is down 63%, 4) Powell says 50 bps is not guaranteed, and 5) Biden unveils budget proposal at 2:30 PM ET.