Binance says it will buy FTX after smaller rival stumbles in ‘liquidity crunch’ • TechCrunch

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Today, we were learning what the hell a mastodon is, so time AmandaThe piece ‘Beginner’s Guide to Mastodon’ is all kinds of perfect.

Read on and come see us later at Mastodon. If you can – this is another challenge. We have confidence in your cyber style skills, but here’s a hint: we’re both on Mastodon.Social. – Christine And came.

TechCrunch’s Top 3

  • This surprise is off the chain!In a surprise move today, Binance announced its interest in acquiring FTX, clearing some of the “liquidity issues” that FTX founder Sam Bankman-Fried tweeted. Manish Reports. This comes after the founders of the two companies had a public spat recently. (More on Big Tech Inc. below).
  • roll outIn TechCrunch+ land, Becca Peloton co-founder John Foley wrote about what he’s been doing. Apparently, he is “now a carpet man.” Also, as Becca points out, their new company, Ernesta, is another example of investing in people they know, even if their last company lost some of them.
  • A list that changes daily: Hey, Twitter users, are you in Group Verify or just leave Group My? either way, Ivan It has a list of features that Elon Musk has promised to bring to Twitter.

Startups and VCs

Even though financial technology startups are having a bit of a time getting into venture capital deals and layoffs, Kuna Capital, which invests in markets accelerating financial inclusion, says there’s still appetite for fintechs. Christine Reports. The firm had a capital commitment of $332 million for its Fund III, which focuses on financial inclusion.

Also from Christine Today (besides our resident Daily Crunch reporters, she’s a post-writing machine!) is an article about Dolla, a company that helps international founders start limited liability companies in the United States without a social security number. The company raised $8 million in funding less than a year after raising $3 million in seed funding.

A few more, because we love you:

Here is the report on the Binance and FTX fiasco.

Image Credits: Wenjin Chen (Opens in a new window) / Getty Images

Today we learned that the world’s largest crypto exchange is expecting the world’s third largest crypto exchange. but why?

In a detailed explanation, Jacquelyn Melinek wrote in a CoinDesk report last Thursday on crypto trading firm Alameda Research that Binance liquidated the mountain of tokens that support many Alameda loans.

Three more from the TC+ team:

TechCrunch+ Our membership program helps founders and startup teams stay ahead of the pack. You can register here.. Use code “DC” for 15% off annual subscription!

Big Tech Inc.

As promised above Jacqueline Dive deep into some of the things going on in FTX, which crypto exchanges withdrawals seem to be slow. And its new owner, Binance, is “slowly releasing billions of holdings in FTX’s native token, FTT.” Oh, both of you!

And we have five more for you:

  • Who has a new casual game?: It’s Netflix! The streaming service is trying its hand at a new trivia game — remember its foray into “Trivia Quest”? New is an interactive trivia experience called “Triviaverse.” Lauren It has more.
  • Video, email, calendarZoom is adding email and calendaring to its lineup of features. Ron Reports are currently the company’s chosen way to expand its offerings.
  • Going downGrab Finance chief Ruben Lai plans to leave the company at the end of the year. Catherine He wrote.
  • It is a party, a third party, ieBecause it opens up huge potential for third-party merchants in India to have Amazon-like logistics power. Manish He wrote.
  • Never give upEU investigators now plan to take a closer look at Microsoft’s $68.7 billion bid for Activision and what it means for competition. Natasha L Reports.

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