Nigerian startup that stored its ‘day-to-day operational budget’ on FTX announces staff cuts  • TechCrunch

To get TechCrunch’s compilation of the biggest and most important stories delivered to your inbox daily at 3 p.m. PDT, Sign up here.

Hello, and welcome to a new week. As mentioned last Friday, haje turned off the scuba diving, leaving the rest of us picking up Twitter and FTX pieces. Never mind, we are here for you. Mary Ann start us by reporting on SoftBank writes down nearly $100 million investment in FTX. And with that, let’s find out! — Christine

Top 3 TechCrunch

• This FTX business has a wide reach: card reported on what happened to a young company that holds some assets in FTX and can’t access them now because you know. In this case, African web3 startup Nestcoin said it had to lay off employees for not having that access.
• A real comparison: Now everyone in Europe can know the joy and wonder that is the price comparison tool Klarna, which Paul write may just be a “reliable alternative to Google and Amazon.”
• OMG: Bird, a micro-mobile company, told the Securities and Exchange Commission that it included unpaid customer trips in its revenue, thus overstating that specific number in two years. Jaclyn there are many more.

Start-ups and VC

At this point, we all expect our data to move pretty quickly, but having too much data still gives us headaches. This is where Quix comes in, Mike write. Real-time data startup raised $12.9 million in Series A funding, do not do this with ksqlDB, Java based solutions, or any fancy SQL schmancy based analytics solutions. Oh no, quix 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 the link. Jacquelyn reports Joepegs Market NFTraised $5 million in a round co-led by FTX and Avalanche.
• “Adult friendships are fickle beasts”: Indeed they are, but have no fear, 222 will help you find that perfect friend people who don’t care if you make more money than they do, or people who “tend to be lazy”, if that’s your preference, Kyle write.
• Singapore, get your exotic taste buds ready: Vow, an Australia-based cultured meat company, has raised $49.2 million in a Series A funding round to acquire First cell-based meat products enter Singapore restaurant, Christine write.
• Spring into action: Start the electric car Faraday Future signed a contract worth 350 million USD financing deal to hopefully take it out of its previous monetary challenges and launch its first vehicle, Jaclyn report.
• “The sun is a butt ball”: Avocado, now flush with $9 million in fundingled by Gradient Ventures, is helping smaller food distribution businesses comply with food safety regulations, Catherine write.

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

Image credits: Emilija Manevska (Opens in a new window) / Beautiful pictures

According to consultant Grant Easterbrook, fintech startups hoping to succeed in the next few years must be prepared to deal with:

• Big banks and financial service providers with loyalty programs and “super apps”.
• Emerging DeFi protocols “could provide real-world asset-related financial products.”
• Banking, invoicing, lending, payments, accounting are packaged as “embedded financial products”.
• Many countries issue their own Central Bank Digital Currency (CBDC).

“Your company will need a very strong value proposition to compete with all four types of competitors,” writes Easterbrook.

Two other pieces of information from the TC+ team:

• Have you seen mom? Layoffs can teach us something: Big tech layoffs aren’t greatbut Natasha USA writes that while we may see more, businessman Nolan Church, who helped lead Carta’s 2020 layoffs as chief human resources officer, has some views on the layoffs. Twitter’s recent.
• If VCs aren’t investing in you, who are they investing in?: That’s what becca discussed in her latest work that look at all the dry powder in the VC worldand why it hasn’t been implemented yet.

TechCrunch+ is our membership program that helps founders and startup teams get ahead. You can register here. Use code “DC” for 15% off your annual subscription!

Big tech company

And just like that, VLC’s download ban in India has been lifted, Manish report. Nine months ago, the country’s electronics and information technology ministry issued a ban on popular media playback software, something VLC tried to reverse, claiming that the ban was “in place” without any prior notice” and without allowing VLC to use it. opportunity to object.

Natasha LOL there’s more on our favorite social media channel, this time writing that “Twitter is no longer perform major obligations necessary for it to declare Ireland as a “so-called primary basis under the European Union’s General Data Protection Regulation”. Can’t wait to see this place go.

And we have five more for you: