"The yield they wanted to see on this capital" I imagine is some combination of money needed to run operations of the bank, interest paid on the deposits and profit.
They could have just stored the money in the proverbial vault. But if they do that, then they have to charge the depositors a fee to be a customer. And competition has pushed in the other direction.
And probably more importantly that whole "profit" goal.
I thought the follwoing was an interesting analysis: Aside from the fact that those assets don't seem to be valued at the current price (i.e. are marked at cost basis, not market,) much of it is already pledged as collateral.
They had 45 billion in withdrawals before they ran out of liquidity and were taken over by FDIC, so that analysis would appear to be incorrect, since it implied they only had 80-55 = 25 billion of liquidity available.
I think the wording in the FDIC order was that customers were "initiating 42bn of withdrawals."[0] Doesn't mean those went through (in fact many from what I heard didn't.)
Still certainly very possible that the analysis is incorrect.
I used to have a local only manager but then, obviously, syncing becomes a problem. And then it becomes a choice between syncing an encrypted blob using your own solution (potentially not very secure) vs using a provider who still treats your data as an encrypted blob with no access to the data and tries to do it securely. I think the provider is still more secure (again assuming the 1password access model not talking about LastPass-like providers) plus much more convenient. So if not 1password what would be a recommendation assuming syncing is required?
Passkeys are an implementation of FIDO2 so yes, any sites that have implemented webauthn will support passkeys.
It might be useful to think of passkeys as a usability extension to webauthn. You no longer need to buy dedicated security devices but can use your existing laptop and phone to login securely to your accounts. I expect my parents will start using passkeys on sites in the next 24 months. I would not have tried to get my parents to use Yubikeys.
I'm so tired of this FUD cloudflare throws around. So far, I don't see a single cloudflare product that solves the purported problem without introducing three others that they conveniently don't talk about.
And when the inevitable curation / editorial / policing challenge of running half the internet does knock on their doorstep, they go "well we're not the ones who are supposed to be policing it, but what are you gonna do?!"
