Daily Crunch: FTX CEO Sam Bankman-Fried steps down as crypto exchange files for bankruptcy

To get a summary of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3pm PDT, subscribe here.

Hahaha boy. As Alex would say: This week has been a long year. You just know it’s been a pretty wild ride when Meta may lay off 13% of its staffand it’s not even in the top 10 crazy things that happened.

Gmail no longer allows you to use the old interfaceretro-loving nerd, you. Salesforce has made a round of layoffsDOJ seized $3.36 billion of Silk Road crypto, Binance said he would buy FTX then give waywhich makes Sequoia to write off your entire investment in FTX. The founder of Theranos Elizabeth Holmes will find out her fate next weekwhile Peloton’s founder ditched the exercise equipment and now sells carpets. Then there was a wall of drama on Twitterincluding complete chaos with Twitter’s new ‘verified’ system after laying off half its staff before quickly taking action to hire some of them back. Oh, and we all are #RatVerified 4lyf now, i guess.

Maybe next week lightly more chill for you. It will be for Hadje, who gets rid of going diving for a week and eventually trusting Apple with your life in the process. As he left for the day, he could be heard muttering: “I hope there’s some internet left when I get back.”

Take a breather, you can always explode from stress next week instead. — Christine and Hadje.

TechCrunch’s Top 3

  • Just the beginning, we’re afraid: If you’ve been following all the FTX company drama, then you’re no doubt aware of today’s big story that the founder and CEO of the crypto exchange, Sam Bankman-Fried, has filed for Chapter 11 bankruptcy and also resigned from his position. This comes after SBF decided it had a chance to save the company through other methods, such as tying to Binance and then some liquidity. It was so much that Jacqueline said on CNBC this morning that everyone should put their crypto in their own private keys.
  • All this back and forth is hurting us: We’re afraid Twitter developers have spent much of their 84-hour workweek flipping the “official badge” switch on and off to appease Elon Musk’s ever-flipping ideas. Natasha L there’s more to what’s going on.
  • Potato, potahto, let’s turn it all off (and turn it back on): Ivan has the best headline of the week – “Have you tried turning it off and on again, Elon?” We’re still waiting for that answer.

Startups and VCs

Our entire news team collapsed on their couches, slightly shell-shocked after one of the craziest news weeks we’ve ever seen. You know, we’re so exhausted we won’t even write a proper introduction. Here, make yourself a cup of tea and click these. Or don’t. You are the master of your own destiny.

Pitch Deck Teardown: Syneroid’s $500K Starter Deck

Stolen vehicle recovery systems have been available for decades, but a lost pet has higher emotional stakes.

According to Syneroid, a startup that makes smart tags, 10 million pets are lost every year in the United States, but “less than 30% make it back home.”

After raising a seed round of $500,000, the company’s founders shared their 12-slide deck with TechCrunch for review. According to Hae Jan Kamps“no information has been redacted or omitted.”

Three more from the TC+ team:

TechCrunch+ is 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 Tech Inc.

Brian visited Amazon’s BOS27 Robotics Facility and not only watched the cute robots line up, but also learned about the supply giant’s plans for global dominance. If you can’t tell by now, it involves robotics and how Amazon aims to improve the world of last-mile delivery.

Need more fun? Here are five more:

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *