The Daily Populous

Wednesday March 15th, 2023 morning edition

image for SVB collapse was driven by ‘the first Twitter-fueled bank run’

The massive amount of customer withdrawals that led to the collapse of Silicon Valley Bank had all the hallmarks of an old-fashioned bank run, but with a new twist befitting the primary industry the bank served: much of it unfolded online.

Customers withdrew $42 billion in a single day last week from Silicon Valley Bank, leaving the bank with $1 billion in negative cash balance, the company said in a regulatory filing.

Founders and CEOs then shared tweets about the concerning situation at the bank in private Slack channels, according to The Wall Street Journal.

House Financial Services Chair Patrick McHenry (seen here in January) described SVB's collapse as driven by "the first Twitter-fueled bank run."

one startup founder told CNN last week, after the bank had collapsed.

“Classic ‘runs on the bank’ hurt our entire system,” he wrote in a lengthy Twitter thread on Thursday.

Hours later, the Biden administration stepped in and guaranteed the bank’s customers would have access to all their money starting Monday. »

Russian Fighter Jet Collides with US Reaper Drone Over Black Sea

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Two Russian Su-27 Flanker jets intercepted and purposefully collided with a U.S. MQ-9 Reaper drone in international airspace over the Black Sea.

At approximately 7:03 AM (CET), one of the Russian Su-27 aircraft struck the propeller of the MQ-9, located on the rear of the aircraft.

Russian and U.S. aircraft have operated over the Black Sea during the course of the war, but this is the first known such interaction, and represents a dangerous escalation in tactics by Russia. »

Exclusive: Russia’s secret document for destabilizing Moldova

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It envisions Moldova joining the Russian-led Eurasian Economic Union, Moscow’s answer to the EU, and the Collective Security Treaty Organization, its version of NATO.

In the early months of Russia’s invasion of Ukraine, it absorbed 430,000 refugees, more per capita than any other country.

According to the Russian plan, the Kremlin’s strategy goes after not just elections but what it labels as Moldova’s “humanitarian sector.”. »

Minister: Two more countries join Core Group on Special Tribunal for Russian crime of aggression

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According to Ukraine's Foreign Minister Dmytro Kuleba, two more countries joined the Core Group on the Special Tribunal for the Russian crime of aggression on March 14.

The European Parliament on Jan. 19 adopted a resolution calling on member states to back the creation of a special international tribunal to judge Russian war crimes committed in Ukraine, specifically the crime of aggression.

While the ICC can investigate war crimes committed by individuals, it does not have jurisdiction to prosecute the crime of aggression, thus the need to create the Special Tribunal. »