Nigerian startup that stored its ‘daily operating budget’ at FTX announces staff cuts • TechCrunch

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Hello, and welcome to the start of another week. As mentioned last Friday, The wine is out of the dive, leaving the rest of us to pick up the Twitter and FTX pieces. Don’t bother, we are here for you. maria anna he begins by reporting on SoftBank noting an investment of nearly $100 million in FTX. And with that, let’s dig in! — christina

TechCrunch Top 3

  • This FTX business has a wide reach: drink reports on what happens to a young company that had some assets in FTX and now can’t access them because of, well, you know. In this case, African web3 startup Nestcoin said it had to lay off employees as a result of not having such access.
  • a true comparison: Now people in Europe can experience the joy and wonder that is Klarna’s price comparison tool, which Pablo he writes may simply be a “credible alternative to Google and Amazon.”
  • oops: Bird, a micromobility company, told the Securities and Exchange Commission that it had included unpaid customer rides in its revenue, thus inflating that particular number by two years. jaclyn has more.

Startups and VCs

At this point, we all expect our data to move pretty quickly, but it’s so much that it’s still a pain in the ass. This is where Quix comes in, Miguel writes The real-time data startup landed $12.9 million in Series A funding, not to do this 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 trouble doesn’t mean other companies are shying away from partnering up. jaquelyn reports on the Joepegs NFT marketplace, which raised $5 million in a round co-led by FTX and Avalanche.
  • “Adult friendships are fickle beasts”: Indeed they are, but don’t be afraid, 222 will help you find that perfect friend who doesn’t mind that you earn more than him or who “tends to be lazy”, if that’s your thing. Kyle write
  • Singapore, prepare your exotic taste buds: Vow, an Australia-based cultured meat company, gobbled up $49.2 million in Series A funding to bring its first cell-based meat product to Singapore restaurants. christina write
  • spring into action: Electric vehicle startup Faraday Future signed a $350 million financing deal to hopefully get out of its previous money challenges and launch its first vehicle, jaclyn reports.
  • “The sun is a ball of buttah”: Butter, now backed with $9 million in funding, led by Gradient Ventures, is helping small food distribution businesses comply with food safety regulations. Katherine write

Preparing for the second decade of fintech: 4 moves your company should make now

closeup of chess pieces

Image Credits: Emilija Manevska (Opens in a new window) / Fake Images

According to consultant Grant Easterbrook, fintech startups that expect to succeed in the coming years must be prepared to deal with:

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

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

Two more from the TC+ team:

  • See, mom? Layoffs can teach us something: Big Tech layoffs haven’t been good, but natasha m. writes that while we could see more, businessman Nolan Church, who helped lead Carta’s layoffs in 2020 as its chief people officer, has some perspective on Twitter’s recent layoffs.
  • If VCs aren’t investing in you, who are they investing in?: That is what Scholarship he discusses in his latest article looking at all the dry powder in the VC world and why it’s not being implemented yet.

TechCrunch+ is our membership program that helps start-up founders and teams get ahead of the rest. You can sign up here. Use code “DC” to get 15% off an annual subscription!

big tech inc

And so, the VLC download ban in India was lifted, manish reports. Nine months ago, the country’s Ministry of Electronics and IT instituted a ban on popular media player software, something VLC tried to reverse, claiming that the ban had been “set without notice” and not allowing VLC an opportunity for rebuttal. .

Natasha L. has more on our favorite social media channel, this time writing that “Twitter no longer meets the key obligations required to claim Ireland as its ‘so-called principal establishment under the European Union’s General Data Protection Regulation.'” I can’t. wait and see where this goes.

And we have five more for you:

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