Daily Crunch: FTX CEO Sam Bankman-Fried Steps Down as Crypto Exchange Files for Bankruptcy
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Ooooo man. As Alex would say: This week has been a long year. You just know it's been a pretty crazy ride when Meta can lay off 13% of its staff, and it's not even really in the top 10 of crazy things that have happened.
Gmail no longer lets you use the old interface, you who love retro. Salesforce carried out a series of layoffs, the DOJ seized $3.36 billion worth of Silk Road crypto, Binance said it would buy FTX, then pulled out, forcing Sequoia to cancel its entire FTX investment . Theranos founder Elizabeth Holmes will find out her fate next week, while the Peloton founder has given up on exercise equipment and is now selling mats. Then there was a wall of drama on Twitter, including total chaos with Twitter's new "verified" system after it fired half of its staff, before moving quickly to rehire some. Oh, and we're all #RatVerified 4lyf now, I guess.
May next week be slightly colder for you. It will be for Haje, who manages to go scuba diving for a week, and maybe trust Apple with her life in the process. As he left for the day, he could be heard muttering, "Hope there's some internet left when I get back."
Take a break, you can always implode with stress next week instead. — Christine and Haje.
TechCrunch's top 3 This is just the beginning, we're afraid: if you've been following all of the FTX corporate drama, then no doubt you have some idea 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 quit. position. It comes after SBF thought there was a chance to save the company through other methods, such as a Binance tie-up and then cash. It's been so much that Jacquelyn said on CNBC this morning that everyone should put their crypto into their own private key. All this back and forth hurts our necks: We fear Twitter developers have spent much of their 84-hour workweek toggling the "official badge" button on and off to appease the constantly flip-flopping ideas of 'Elon Musk. Natasha L knows more about what is going on. Potato, potahto, turn it 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 are still awaiting this response. Startups and VCsOur entire news team collapsed on their respective couches in mild shock after one of the craziest news weeks we've seen. You know, we're so exhausted that we're not even going to write a real intro. Here, make yourself a cup of tea and click on it. Or d...
Get a summary of the biggest and most important stories from TechCrunch delivered to your inbox every day at 3:00 p.m. PDT, register here.
Ooooo man. As Alex would say: This week has been a long year. You just know it's been a pretty crazy ride when Meta can lay off 13% of its staff, and it's not even really in the top 10 of crazy things that have happened.
Gmail no longer lets you use the old interface, you who love retro. Salesforce carried out a series of layoffs, the DOJ seized $3.36 billion worth of Silk Road crypto, Binance said it would buy FTX, then pulled out, forcing Sequoia to cancel its entire FTX investment . Theranos founder Elizabeth Holmes will find out her fate next week, while the Peloton founder has given up on exercise equipment and is now selling mats. Then there was a wall of drama on Twitter, including total chaos with Twitter's new "verified" system after it fired half of its staff, before moving quickly to rehire some. Oh, and we're all #RatVerified 4lyf now, I guess.
May next week be slightly colder for you. It will be for Haje, who manages to go scuba diving for a week, and maybe trust Apple with her life in the process. As he left for the day, he could be heard muttering, "Hope there's some internet left when I get back."
Take a break, you can always implode with stress next week instead. — Christine and Haje.
TechCrunch's top 3 This is just the beginning, we're afraid: if you've been following all of the FTX corporate drama, then no doubt you have some idea 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 quit. position. It comes after SBF thought there was a chance to save the company through other methods, such as a Binance tie-up and then cash. It's been so much that Jacquelyn said on CNBC this morning that everyone should put their crypto into their own private key. All this back and forth hurts our necks: We fear Twitter developers have spent much of their 84-hour workweek toggling the "official badge" button on and off to appease the constantly flip-flopping ideas of 'Elon Musk. Natasha L knows more about what is going on. Potato, potahto, turn it 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 are still awaiting this response. Startups and VCsOur entire news team collapsed on their respective couches in mild shock after one of the craziest news weeks we've seen. You know, we're so exhausted that we're not even going to write a real intro. Here, make yourself a cup of tea and click on it. Or d...
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