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Mark Zuckerberg Sees No Competitor in Apple's New AR Headset
Mark Zuckerberg, the CEO of Meta, appears unperturbed by Apple's launch of the Vision Pro. He discussed his thoughts during a company-wide meeting held at Meta's headquarters in Menlo Park, California, which The Verge had the opportunity to attend. Shares of another American bank collapsed
Despite Fed Chairman Jerome Powell's assurances on the stability of the banking system, PacWest Bancorp's stock has plummeted 58% in late trading. PacWest, struggling in the wake of three competing California-based lenders' collapse, is now considering a range of strategic options, such as a potential sale, breakup, or capital raise. AI-Generated CEO Scams: Taking Crypto Fraud to the Next Level?
Crypto scam projects are getting more creative by the day. California's financial regulator has accused two firms of devising elaborate fraudulent schemes, complete with actors and AI to impersonate CEOs – talk about commitment to the con! Desist orders were issued against companies like Harvest Keeper, Visque Capital, and Maxpread Technologies. Robinhood Receives a Hefty Fine, Fails to Meet BSA/AML Standards
Robinhood, the American financial services company headquartered in Menlo Park, California, has been subject to an investigation by the Department of Financial Services (DFS) in New York State. The agency found that its crypto division violated rules in numerous areas. 
According to the March 2023 reserve report , a total of 8.7 billion USDC is being held in six banks. However, three of these banks – Silvergate, Signature, and Silicon Valley Bank – are currently experiencing liquidity and solvency issues. The situation is especially dire for Silicon Valley Bank, which held 3.3 billion USDC and has been forced to close by the California Department of Financial Protection and Innovation.
The USDC price has dropped by 15%, to $0.86, in response to these developments. Additionally, the DAI stablecoin has fallen by 10%, as up to 50% of its collateral is held in USDC.
Currently, US Treasury bills account for 77% of the USDC reserves. The remaining 23% is held in cash at various banking institutions. The fate of these funds will depend on the outcome of the bankruptcy process for the affected banks and the amount of funds that can be recovered. 