Nigerian startup that stored its ‘day-to-day operational budget’ on FTX announces staff cuts  • TechCrunch

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Hello, and welcome to the start of another week. As mentioned last Friday, Hajj Off to scuba diving, leave the rest of us to pick up the Twitter and FTX pieces. No problem, we are here for you. Mary Ann We started by reporting to SoftBank by writing about a $100 million investment in FTX. And with that, let’s dig in! – Christine

TechCrunch Top 3

  • This FTX business has a wide scope: Taz A report on what happens to a young company that holds some assets in FTX and now can’t access them, well, you know. In this instance, African web3 startup NestCoin said it had to lay off staff due to lack of access.
  • A true comparison: Now people in Europe can know with joy and surprise that Klarna price comparison tool, which Paul Texts can only be “credible alternatives to Google and Amazon”.
  • oops: Bird, a micromobility company, told the Securities and Exchange Commission that it included unpaid customer rides in its revenue, thus overstating that specific number for two years. Jacqueline There are more.
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Startups and VCs

At this point, we all expect our data to move very quickly, but there’s so much of it that it’s still a headache. This is where Quix comes in. mike Real-time data startup Lekha has secured $12.9 million in Series A funding, not to do with ksqlDB, a Java-based solution, or this fancy Schmancy SQL-based analytics solution. Oh no, Quix is ​​building event-driven applications with Python.

And we have five more for you:

  • This event must go on: FTX’s problems do not mean that other companies are walking away from the association Jacqueline Joepegs reports on NFT Marketplace, which raised $5 million in a round led by FTX and Avalanche.
  • “Adult friendships are fickle creatures.”: Indeed they are, but fear not, 222 will help you find that perfect friend that you don’t want to do more than them or that “goes lazy” if you’re into it, Kyle writes
  • Singapore, prepare your exotic taste buds: Vow, an Australian-based cultured meat company, has raised $49.2 million in Series A funding to get its first cell-based meat products to restaurants in Singapore. Christine writes
  • Spring into action: Electric car startup Faraday Future has signed a $350 million financing deal, hoping to pull it out of its earlier financial challenges and launch its first vehicle, Jacqueline Report
  • “A Ball of Sun Butter”: Butter, now flush with $9 million in funding, led by Gradient Ventures, helping small food distribution businesses comply with food safety regulations, Catherine writes
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Preparing for fintech’s second decade: 4 steps your firm needs to take now

Close up of chess pieces

Image credit: Emilija Manevska (opens in a new window) / Getty Images

According to consultant Grant Easterbrook, fintech startups that hope to succeed in the next few years must be prepared to go up against:

  • Major banks and financial service providers with loyalty programs and “super apps”.
  • Emerging DeFi protocols “that can offer financial products involving real-world assets.”
  • Banking, invoicing, lending, payments, accounting are packaged as “embedded financial products”.
  • Several countries are issuing their own Central Bank Digital Currency (CBDC).

“Your firm will need a very strong value proposition to compete with all four types of competitors,” writes Easterbrook, who shares his ideas for navigating the next decade of fintech in a TC+ guest post.

Two more from the TC+ team:

  • Look mom? Layoffs can teach us something: The big tech cuts haven’t been great, but Natasha M While we may see more, entrepreneur Nolan Church, who helped lead Carter’s 2020 layoffs as chief people officer, has some perspective on Twitter’s recent layoffs, wrote that.
  • If VCs aren’t investing in you, who are they investing in?: So what? becca Discusses his latest piece that looks at all the dry powder in the VC world and why it’s still not being deployed.
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TechCrunch+ Our membership program that helps founders and startup teams get ahead of the pack. You can sign up here. Use code “DC” for 15% off an annual subscription!

Big Tech Inc.

And just like that, VLC’s download ban was lifted in India, Manish Report Nine months ago, the country’s Ministry of Electronics and IT imposed a ban on the popular media playback software, some VLC tried to overturn, saying the ban was “implemented without prior notice” and that VLC did not allow an opportunity to refuse permission.

Natasha came Our favorite social media channel has more, this time writing that “Twitter is no longer meeting the key obligations required to claim Ireland as a “so-called lead organization under the EU’s General Data Protection Regulation”. Can’t wait to see where this goes.

And we have five more for you:


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