Each day Crunch: FTX CEO Sam Bankman-Fried quits as crypto alternate recordsdata for chapter

Read Time:3 Minute, 44 Second

2022-11-11 23:05:05

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Hoooo boy. As Alex would say: This week has been a protracted yr. You simply realize it has been a fairly wild journey when Meta can lay off 13% of its employees, and it isn’t even actually within the high 10 of loopy issues that occurred.

Gmail not enables you to use the outdated interface, you retro-loving nerd, you. Salesforce did a spherical of layoffs, the DOJ seized $3.36 billion price of Silk Highway crypto, Binance mentioned it will purchase FTX, then backed out, inflicting Sequoia to write off its total FTX funding. Theranos’s founder Elizabeth Holmes will discover out her lot subsequent week, whereas Peloton’s founder gave up on train tools and is promoting rugs now. Then there was a wall of Twitter drama, together with utter chaos with Twitter’s new “verified” system after it laid off half of its employees, earlier than shortly making strikes to rent a few of them again. Oh, and we’re all #RatVerified 4lyf now, I assume.

Might subsequent week be barely extra chill for you. It will likely be for Haje, who’s buggering off to go do some scuba diving for every week, and probably trusting Apple along with his life within the course of. As he left for the day, he might be overheard muttering, “I hope there’s a little bit of web left once I come again.”

Take a breather, you may at all times implode with stress subsequent week as an alternative. — Christine and Haje.

The TechCrunch High 3

  • Solely the start, we concern: When you’ve been following the entire FTX firm drama, then little doubt you could have a tackle immediately’s large story that the crypto alternate founder and CEO Sam Bankman-Fried filed for Chapter 11 chapter and likewise resigned his place. This comes after SBF thought there was an opportunity to avoid wasting the corporate by different strategies, like a tie-up with Binance after which some liquidity. This has been a lot that Jacquelyn mentioned on CNBC this morning that everybody ought to put their crypto in their very own non-public keys.
  • All that back-and-forth is hurting our neck: We concern that Twitter builders have spent a lot of their 84-hour workweek flipping the “official badge” swap on and off to appease Elon Musk’s continually flip-flopping concepts. Natasha L has extra on what’s occurring.
  • Potato, potahto, let’s name the entire thing off (and on once more): Ivan has the perfect headline all week — “Have you ever tried turning it on and off once more, Elon?” We’re nonetheless ready for that reply.

Startups and VC

Our total information workforce are flopped over of their respective sofas, barely shell shocked after one of many wildest information weeks we’ve seen. , we’re so exhausted, we’re not even gonna write a correct intro. Right here, make your self a cup of tea and click on by these. Or don’t. You’re the grasp of your individual future.

Pitch Deck Teardown: Syneroid’s $500K seed deck

Stolen-vehicle restoration methods have been obtainable for many years, however a misplaced pet has larger emotional stakes.

In line with Syneroid, a startup that makes good tags, 10 million pets are misplaced every year in the USA, however “lower than 30% are returned dwelling.”

After elevating a $500,000 seed spherical, the corporate’s founders shared their 12-slide pitch deck with TechCrunch for a evaluate. In line with Haje Jan Kamps, “no info has been redacted or omitted.”

Three extra from the TC+ workforce:

TechCrunch+ is our membership program that helps founders and startup groups get forward of the pack. You may join right here. Use code “DC” for a 15% low cost on an annual subscription!

Large Tech Inc.

Brian visited Amazon’s BOS27 robotics facility and never solely watched cute robots line up, but additionally realized in regards to the supply large’s plans for world domination. When you can’t inform by now, it entails robotics and the way Amazon goals to enhance the world of last-mile supply.

Want extra leisure? Right here’s 5 extra:





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