Every day Crunch: Terraform Labs CEO goes public with technique to re-peg sliding UST stablecoin

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It’s Wednesday, Might 11, aka the beginning of GooglePalooza, which the corporate insists on referring to because the far much less entertaining “Google I/O 2022.” Our “GoogleCrunch group” has ready a bevy of tales on Google’s {hardware} and software program lineup, together with Pixel Watch, Pixel 6A — a tease of the Pixel 7 — and a brand new pill. All the small print are under within the Massive Tech part. – Christine and Haje

The TechCrunch High 3

  • ‘Stable’ coin: Jacquelyn has all the small print in regards to the dramatic fall of Terra USD, a “stablecoin” often called UST, and its founder’s plans for avoiding a UST crash. Jacquie then collected crypto market participants’ thoughts about what UST’s meltdown means for the broader crypto market and different stablecoins.
  • Hits keep coming for crypto: Simply kidding; Coinbase’s first-quarter outcomes not solely despatched its share costs down however knowledgeable us that the variety of month-to-month transacting customers is predicted to proceed to fall. What does this imply for crypto? Properly, it might need to climate the storm for some time. To make issues worse, Coinbase revealed it had to halt trading in India after some stress from the Reserve Financial institution of India.
  • Airbnb plans for a hot house summer: As Jordan reviews in a pair of very pleasing tales at present — together with a Q&A with Brian Chesky, who believes “a new era of travel is about to begin” — the corporate is getting its seashore bod prepared for the summer time with some new options, a class search, having the ability to e-book two listings in a single circulation for stays over every week, and AirCover journey insurance coverage for company.

Startups and VC

Few issues blow our minds as a lot because the sheer scale of Tiger International — the agency took a battering with $17 billion in losses. Connie reviews it has burned through most of its most recent VC fund. Yikes.

As tech reporters, we love the fast rise and we observe with occasional glee the unscheduled descent of the startups we cowl. Natasha and Alex remind us in at present’s episode of the Fairness podcast that whereas founders couldn’t have seen a pandemic coming, they need to have been higher ready for the world returning to no matter “regular” means. Or, as they put it: Layoffs happen to people, not companies.

Certain, go on, I’ll have one other:

Discovering your startup’s valuation: 5 components to contemplate

6-sided die showing the number 5 On Old Wooden Table

Picture Credit: avier Zayas Photography (opens in a new window) / Getty Photos (Picture has been modified)

In her newest TC+ column, angel investor Marjorie Radlo-Zandi addresses a query that’s on each founder’s thoughts today: What’s my present valuation?

For early-stage startups, discovering that determine requires extra artwork than science, since pre-revenue corporations are nonetheless gathering information and fine-tuning their merchandise.

“Many conventional valuation strategies, corresponding to discounted money circulation, aren’t as helpful for valuing early-stage startups,” she writes. “This implies buyers need to gauge different components that aren’t so simply measured.”

(TechCrunch+ is our membership program, which helps founders and startup groups get forward. You can sign up here.)

Massive Tech Inc.

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