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Y-yy exciting times for crypto land, with Bitcoin falling below $17,000 for the first time in a while. Wild, given that the cryptocurrency was trading at $65,000 or so a year ago. That’s a 74 percent reduction. What kind of winter is this – are we seeing a crypto cold snap or a crypto permafrost? Answers on immutable blockchain transaction please.
If you’re curious about the world of crypto, we’ve got an event in Miami in two weeks – details and tickets here! – Christine And came.
TechCrunch’s Top 3
- More social media struggles: Although the subject is low, Paul He wrote a great story about Meta’s confirmed layoffs of 11,000 employees, explaining what happened, why, and what it means for the future of Meta at large. More on Big Tech below.
- It was good while it lasted.For a few hours this morning, we TechCrunchers were excited to see our beloved Twitter handle get an “Official Twitter Badge.” Amanda He writes, what Twitter gives, Twitter quickly takes.
- This is it. Really It happened: In the boardroom, with the badge code, was Elon Musk. As we mentioned, Musk was killing the ghost all over Twitter today, graying out high-profile accounts and then deleting them. Kyle It has more.
Startups and VCs
Edge computing cloud and global data network Macrometa has raised $38 million in funding led by Akamai Technologies, as the two announce a new partnership and product integration; Catherine Reports. The funding includes participation by Shasta Ventures and Sixty Degrees Capital. Akamai Technologies CTO Andy Champagne joins Macrometa’s board.
Startups may be funding in mid-winter, but the sun shining on some VCs speaks of another trend, reports Ingrid. EQT Ventures, the Swedish investment giant that bets on early-stage startups in Europe, has closed its latest fund, filling its coffers with €1 billion (and $1.1 billion in total commitments).
Just like our headline stories, but with more summary:
Three tips for managing a remote engineering team
Image Credits: audit (Opens in a new window) / Getty Images
Remote work is not for every business, and it may not be everyone’s cup of tea. When Greg Soh And his co-founder decided to build a distributed engineering team for their startup, many questions were running through their minds: Will the team be successful? How are decisions made? How do you maintain the culture? Today, the startup manages a remote team of about a dozen engineers, and they’ve learned quite a bit along the way.
At TechCrunch+, the company shares some of the tips and advice it’s learned — much of the advice applicable to early stage startups.
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.
Following Meta’s announcement today of 11,000 layoffs Ingrid He took a deep dive into the company’s 8-K and emerged with some fresh takeaways, including what he predicts — cutting costs on hiring and capex investments will help the company’s 2023 bottom line.
Meanwhile, Frederick He writes about IBM’s Osprey quantum processor, which isn’t exactly the 4,000 qubits the company wants to achieve by 2025, but at 433 qubits, it’s a good start.
And we have five more for you:
- More layoffs: You didn’t think you would get off so easily, did you? Ron Salesforce has reportedly laid off hundreds of employees Arya Astra has reported that it will lay off 16 percent of its workforce after nearly tripling its workforce last year.
- Brrr, it’s cold in here – there must be some crypto in the atmosphere: That’s right. Anita He had some sixth sense or something. Earlier today, she wrote that the proposed Binance and FTX M&A deal seems unlikely to close. Lo and behold, before this came out, Binance decided to walk away from the deal; Jacqueline Reports.
- Cooperation siteReady to Freeform? I’m not sure if it’ll be a verb yet, but Apple hopes its collaborative whiteboard is something that sticks. Ivan Reports.
- Sensors and software and EVs, oh my!: Volvo unveiled its first fully electric SUV today, and we’re drooling. Jacqueline It has more.
- We assume that he did not win PowerballElon Musk sold more of his Tesla stock. Rebecca He wrote. 19.5 million shares were worth nearly $4 billion. Think about what you are using the money for…
