Daily Crunch: First Republic Bank stock reaches record low as feds discuss rescue plan

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In today’s Equity podcast episode, the team discusses whether First Republic’s decline in shares is a result of SVB’s collapse, or if there are other factors involved. Meanwhile, Jacquelyn’s Chain Reaction newsletter looks at what’s in store now that Binance.US has backed away from its $1.3 billion deal with Voyager. And for the weekend, TechCrunch wishes its readers a good time and encourages them to pursue fun activities.

The TechCrunch Top 3

  • The beginning of the end?: First Republic Bank’s shares were down 40% on rumors that the government may take over, says Alex. This is not good news for the bank or its customers, who do not yet have the same protections provided to SVB’s customers.
  • Missing: Manish notes Amazon’s latest earnings report does not include its India business, which is unusual.
  • All grown up: According to Ivan’s report, Brave Search is no longer using Bing’s index for its search engine.

Startups and VC

Postscript and Attentive, two mobile messaging services providers, became embroiled in a public spat earlier this month after Attentive sent a cease-and-desist letter to Postscript over a client case study regarding nutrition firm BUBS Naturals, says Christine. Postscript claims BUBS left Attentive for its shrinking list and that it had difficulty transferring its list to its platform. Shariah-compliant fintechs that avoid alcohol, tobacco transactions and interest charges are now available, says Catherine.

Finally, Impartner VP of product Gary Sabin explains how persona-based services in implementation, customer support, and customer success improved customer satisfaction ratings and NPS scores. Five additional stories are also available.

Reddit is developing Discord-like channels, which will have dedicated channels for moderators to manage subreddits and decide if the feature should be enabled for the community or not, according to Ivan.

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