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 beginning of another week. As mentioned last Friday, Haji It’s gone from scuba diving, leaving the rest of us to pick up the tweeter and FTX parts. No worries, we are here for you. Mary Ann It starts us off with a report on SoftBank registering a roughly $100 million investment in FTX. And with that, let’s dig in! – Christian

TechCrunch Top 3

  • This FTX trade has a wide scope: Crown Reports of what happens to a young company that held assets in FTX and now can’t access them, well, you know. In this example, the African web3 startup Nestcoin announced that it was forced to lay off employees due to lack of access.
  • A real comparison: Now people in Europe can know the joy and wonder that is the Klarna price comparison tool that Bridge Posts might just be a “valid alternative to Google and Amazon.”
  • oh: Byrd, a micromobility company, told the Securities and Exchange Commission that it included unpaid customer rides in its revenue, so it overstated that particular number for two years. Jacqueline have more.
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Startups and VC

At this point, we all expect our data to move quickly, but too much of it is still a pain. That’s where Quix comes in. Mike is writing. This real-time data startup received $12.9 million in Series A funding, not with ksqlDB, Java-based solutions, or any of those fancy SQL-based analytics solutions. Oh no, Quix is ​​developing event-driven applications with Python.

And we have five more for you:

  • The show must go on: Just because FTX is having problems doesn’t mean other companies are avoiding cooperation. Jacqueline Reports on Joepegs NFT Marketplace, which raised $5 million in a round led by FTX and Avalanche.
  • “Adult friendships are fickle animals”: In fact they are, but have no fear, 222 will help you find that perfect friend who doesn’t care if you get more than them or is “lazy” if that’s what you’re after. are you interested Kyle is writing.
  • Singapore, prepare your exotic taste buds: Vow, an Australia-based cultured meat company, has raised $49.2 million in Series A funding to bring its first cellular meat product to restaurants in Singapore. Christian is writing.
  • Spring in action: Electric car startup Faraday Future has signed a $350 million deal as it hopes to overcome its previous financial challenges and bring its first vehicle to market. Jacqueline reports.
  • “The sun is a bush ball”: Korea, which now has $9 million in funding led by Gradient Ventures, is helping smaller food distribution businesses comply with food safety regulations. Catherine is writing.
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Preparing for FinTech’s Second Decade: 4 Moves Your Firm Must Make Now

Close-up of chess pieces

Image credit: Emilia Manuska (opens in a new window) / Getty Images

According to consultant Grant Easterbrook, fintech startups that hope to succeed in the next few years must deal with:

  • Big banks and financial service providers with loyalty programs and “super programs”.
  • Emerging DeFi protocols “that can offer financial products that involve real-world assets.”
  • Banking, billing, lending, payments, accounting are packaged as “embedded financial products”.
  • Several countries are issuing their own central bank digital currency (CBDC).

“Your company needs a very strong value proposition to compete against 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:

  • see mom? Getting fired can teach us something: The big tech layoffs haven’t been great, though Natasha M Although we could have seen more, entrepreneur Nolan Church, who helped fire Carta in 2020 as its chief executive, has some perspective on Twitter’s recent layoffs, he writes.
  • If VCs won’t invest in you, who will?: This is what Becca In his latest article, he looks at all the dry powder in the VC world and why it’s still not being used.
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TechCrunch+ It’s our membership program that helps founders and startup teams get ahead of the curve. You can register here. Use code “DC” for 15% off annual subscription!

Big technology company

And just like that, VLC download ban lifted in India, Manish reports. Nine months ago, the country’s Ministry of Electronics and Information Technology imposed a ban on the popular media player, something VLC tried to reverse, stating that the ban was “imposed without any prior notice” and did not allow VLC a chance to to reject

Natasha L It has more on our favorite social media channel, this time writing that “Twitter is no longer meeting the key obligations required to claim Ireland as its ‘so-called principal establishment 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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