News
Silicon Valley Bank’s sudden closure sends shockwaves through financial markets
On Friday, Silicon Valley Bank had its operations shut down by California banking regulators. The Federal Deposit Insurance Corporation (FDIC) was then appointed as the receiver to handle the bank’s assets at a later time.
The news shocked the financial world with its sudden collapse, becoming the largest bank to fail since the 2008 financial crisis. The bankruptcy has sent shockwaves through global markets and left countless companies and investors in limbo with billions of dollars at stake.
Santa Clara-based lender Silicon Valley Bank, the 16th largest bank in the US with $209 billion in assets, collapsed abruptly due to the impact of the Federal Reserve’s interest rate hikes on the start-up space, in which it was a major player.
Silicon Valley Bank’s attempt to offset the loss of deposits by raising capital resulted in a $1.8 billion loss on Treasury bonds, which were impacted by the Federal Reserve’s interest rate hikes.
The failure underscores the fragility of the banking system and has prompted calls for increased regulation to prevent future catastrophes.
Highlights
- California regulator closed SVB and also took control of SVB’s customer deposits.
- SVB focused on lending to start-ups; branches are to reopen Monday.
- FDIC to sell bank assets; ‘chaos’ reported amid withdrawals.
- Bank shares fall in U.S. and Europe.
- Crisis exposes banking ‘vulnerabilities’ amid rising rates.
- Bloomberg: Almost 50% of US venture capital-backed startups had ties to Silicon Valley Bank.
- Fortune: Days before Silicon Valley Bank’s historic collapse, its CEO sold $3.6 million worth of stock in what is being considered a potentially problematic transaction.
Silicon Valley Bank’s popularity among startups
Silicon Valley Bank’s popularity among startups and venture capitalists extends beyond US borders, with companies and investors worldwide choosing the bank as their top choice for financial services.
Startup founders from around the globe are working against time to move their money out of Silicon Valley Bank (SVB), which was shut down by US regulators last night, in what is being called the largest bank failure since the 2008 Lehman bankruptcy, which sparked off a global financial crisis.
Roblox Corp and Roku Inc, both of whom had significant deposits at Silicon Valley Bank, have announced that they had hundreds of millions of dollars invested in the institution.
Alternative digital banks for Startups
As startups and investors seek alternative banking options in the wake of Silicon Valley Bank’s sudden collapse, Brex has emerged as a potential solution, among others. The financial services provider, valued at $12.3 billion, is expediting the process for founders looking to set up bank accounts for their businesses and is reassuring customers that it has not been impacted by the “current banking volatility.”
In fact, Brex has reportedly received billions in deposits from former Silicon Valley Bank customers overnight.
The company has also offered VIP support to those seeking to switch banks, making it an attractive option for startups looking for a quick and secure banking solution amidst the uncertainty of recent events.
For its part, fintech company Mercury, which has been specializing in banking services for startups since 2019, has reported a surge in inbound interest from potential clients.
There are several alternative digital banks for startups to consider beyond Silicon Valley Bank, including:
- Brex: A financial services provider that offers credit cards and cash management solutions to startups.
- Mercury: A banking platform that provides financial services for startups, including bank accounts, payment processing, and cash management.
- Chime: A mobile banking platform that offers no-fee banking services and cash management tools.
- Novo: A digital bank that provides business banking services and integrations with popular accounting and financial software.
- BlueVine: A fintech company that provides banking services to small businesses, including checking accounts, loans, and lines of credit.
Silicon Valley Bank will reopen its branches on Monday following its sudden collapse. The bank’s closure had left many clients unsure of the fate of their investments, but this news brings some relief. Many are now watching closely to see how the bank will recover from this event.
News
Amr Diab Gets Hacked on Twitter
Amr Diab’s Facebook page has announced that his twitter account has been hijacked by anonymous and now tweeting political.
Update: Amr Diab’s Facebook Page announced that “Amr Diab’s Twitter account has been restored successfully and you can follow Amr’s tweets normally now”
Amr Diab got hacked on Twitter
On Thursday 9th of Jan, Amr Diab’s Facebook page announced that Amr Diab’s Twitter account has been hacked by anonymous and now tweeting politics!
Amr Abdul-Basset Abdul-Azeez Diab (born 11 October 1961) is an Egyptian singer and composer of pop music. He was awarded the World Music Award for Best Selling Middle East Artist, three times: 1998 for the album “Nour El Ain”, 2002 for the album “Aktrr Wahid Byhbak 2001” and 2007 for the album “El Lillady”. Amr Diab also won The African Music Awards 2009, Big Apple Music Awards; Life Achievements Awards: Best Singer of The Year in 2009, and Best Male Act in African Music Awards 2010.
He is known as the Father of Mediterranean Music He has created his own style which is often termed “Mediterranean Music” or “Mediterranean Sound”, a blend of Western and Egyptian rhythms.
In The Mediterranean in Music, David Cooper and Kevin Dawe referred to his music as “the new breed of Mediterranean music”.According to author Michael Frishkopf, Amr Diab has produced a new concept of Mediterranean music, especially in his international hit, “Nour El Ain”.
In his analysis of The Very Best of Amr Diab album, Victor W. Valdivia of All music said: “His music melded traditional Arabic sounds and textures with Western rhythms and instruments. The mesh was dubbed Mediterranean music, and The Very Best of Amr Diab displays Diab’s superb skill in creating it.”
In 1997, he won three awards at the Annual Arabic Festival: one for Best Video, for Best Song, and for Best Artist of the Year. Diab received a Triple Platinum Award for the sales of Nour El Ain and a World Music Award in Monaco.
After the success of the previously shared overall analysis of Sherine’s new album “Ana Keter” and her social media presence, we decided to fulfill your requests with more details and additional insights.
The report is from Jan 15 through Jan 31, 2014; however, starting Feb, we noticed that Sherine’s team has enhanced and developed how they engage with fans on Facebook.
Still, there’s more to do; please review the slides below to know what exactly they are missing with recommendations.
Check out the report:
Key take-outs in 15 days after the launch:
- Album gained 11 million views in 2 weeks on YouTube
- YouTube Channel subscribers boosted by 90K subscribers in 15 days out of 127K total subscribers overtime
- Buzz reached 15K tweets/RTs since the launch on Twitter
- How do people talk about the album/Sherine on Twitter?
- People are sharing songs from YouTube & SoundCloud
- +90% positive sentiment on Twitter
- Sherine’s Twitter account is excellent at spreading the news about the album’s success.
- People are tweeting the song’s lyrics.
- Sarcastic tweets about Sherine & few songs (regular) - Almost zero negativity about the album
- Album teasers on Facebook created credibility for Sherine’s page, reflected in the page results after the album’s launch in the next 15 days with 92K Interactions & 312K New Likes.
- The album received tremendous engagement on the launching date of Jan 15. However, no posts for four days after the launch negatively affected the interactions.
Recommendations:
Sherine Abdel Wahab’s Facebook page would have received double or maybe triple new likes and interactions if the improved posts’ quality; please find below the points taken:
- Long updates with no extra value-added will lead to losing your fans’ interest
- The text-only format isn’t preferred, as it is well-known that they generate less reach than other content (Facebook announcement)
- A call to action is essential to generate leads & increase engagement
- Each post has to have its visual, audio, or video so you can attract/engage your audiences
- Understand the situation and act upon it, always be relevant to the time and avoid posting irrelevant content at the wrong time.
- Revise the tone of voice in future activities.
To recap - Overall performance is average to good - Enhance your content formatting - Improve the tone of voice on all networks - Be creative to engage your fans better - Be Consistent - Start your SoundCloud account.
News
Putin, Obama war on social media starts with unfriend on Facebook
New stage of the cold war, is it?
The Social media war between Putin and Obama started with UnFriend, this is the action taken by Russian President Vladimir Putin to end the Facebook diplomacy with American president Barack Obama.
The unfriending comes after an official White House update about the possibility of a US-Syrian war. President Putin revealed that Obama’s updates about the Congressional debate on a possible war with Syria have annoyed him.
After unfriending, President Putin update status on profile “Something I should have done a long time ago”
Also, He said to Russia’s Pravda News Service “President Assad and I, we are the Facebook friends. We like the same pages, we share pictures of cute women and all that. Obama needs to lighten up on there, it’s not for serious stuff,”
President Obama’s latest posts about the possibility of the war in Syria have been reported by someone and he received a warning from Facebook that he will be prevented from posting on his profile for 24 hours.
He has also commented “Really, Putin needs to grow up. If he didn’t like that [post], he could have just hid it from his news feed instead of creating all this Facebook drama,”
JOE BIDEN “Vice President of the United States” announced to reports that President Obama has signed into his Twitter account to unfollow Putin.
The turmoil generated between Putin and Obama over their dispute on the Syrian crisis. Expanded to reach the social networks
Putin and Obama on social Networks
The question now is, are we witnessing a new stage of the cold war between the two countries, will they continue the war online instead of the military tactics and old spy war?
It’s obvious that social media is really changing the game in everything, and now it’s taking over on a very high level.
Keep an eye on Digital Boom and we will keep you posted with more news and updates on the cold war and even more…
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