FTX CEO Sam Bankman-Fried quits as crypto alternate information for chapter • TechCrunch

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Hoooo boy. As Alex would say: This week has been a protracted 12 months. You simply comprehend it has been a fairly wild journey when Meta can lay off 13% of its staff, and it isn’t even actually within the high 10 of loopy issues that occurred.

Gmail no longer lets you use the old interface, you retro-loving nerd, you. Salesforce did a round of layoffs, the DOJ seized $3.36 billion worth of Silk Highway crypto, Binance said it would buy FTX, then backed out, inflicting Sequoia to write off its entire FTX investment. Theranos’s founder Elizabeth Holmes will find out her lot next week, whereas Peloton’s founder gave up on train tools and is selling rugs now. Then there was a wall of Twitter drama, together with utter chaos with Twitter’s new “verified” system after it laid off half of its workers, earlier than rapidly making moves to hire some of them back. Oh, and we’re all #RatVerified 4lyf now, I suppose.

Could subsequent week be barely extra chill for you. It is going to be for Haje, who’s buggering off to go do some scuba diving for per week, and presumably trusting Apple with his life in the process. As he left for the day, he could possibly be overheard muttering, “I hope there’s a little bit of web left after I come again.”

Take a breather, you’ll be able to at all times implode with stress subsequent week as an alternative. — Christine and Haje.

The TechCrunch Prime 3

  • Only the beginning, we fear: For those who’ve been following the entire FTX firm drama, then little doubt you’ve gotten a tackle at this time’s huge story that the crypto alternate founder and CEO Sam Bankman-Fried filed for Chapter 11 chapter and likewise resigned his place. This comes after SBF thought there was an opportunity to avoid wasting the corporate via different strategies, like a tie-up with Binance after which some liquidity. This has been a lot that Jacquelyn mentioned on CNBC this morning that everybody ought to put their crypto in their very own non-public keys.
  • All that back-and-forth is hurting our neck: We concern that Twitter builders have spent a lot of their 84-hour workweek flipping the “official badge” swap on and off to appease Elon Musk’s continually flip-flopping concepts. Natasha L has extra on what’s occurring.
  • Potato, potahto, let’s call the whole thing off (and on again): Ivan has one of the best headline all week — “Have you ever tried turning it on and off once more, Elon?” We’re nonetheless ready for that reply.

Startups and VC

Our complete information group are flopped over of their respective sofas, barely shell shocked after one of many wildest information weeks we’ve seen. You recognize, we’re so exhausted, we’re not even gonna write a correct intro. Right here, make your self a cup of tea and click on via these. Or don’t. You’re the grasp of your individual future.

Pitch Deck Teardown: Syneroid’s $500K seed deck

Stolen-vehicle restoration methods have been accessible for many years, however a misplaced pet has larger emotional stakes.

In accordance with Syneroid, a startup that makes sensible tags, 10 million pets are misplaced annually in america, however “lower than 30% are returned dwelling.”

After elevating a $500,000 seed spherical, the corporate’s founders shared their 12-slide pitch deck with TechCrunch for a evaluate. In accordance with Haje Jan Kamps, “no info has been redacted or omitted.”

Three extra from the TC+ group:

TechCrunch+ is our membership program that helps founders and startup groups get forward of the pack. You can sign up here. Use code “DC” for a 15% low cost on an annual subscription!

Huge Tech Inc.

Brian visited Amazon’s BOS27 robotics facility and never solely watched cute robots line up, but in addition discovered in regards to the supply big’s plans for world domination. For those who can’t inform by now, it entails robotics and the way Amazon goals to enhance the world of last-mile supply.

Want extra leisure? Right here’s 5 extra:

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