Welcome everyone! Chain reaction,
In us Chain reaction podcast This week ես Anita and I spoke with Lightspeed Venture Partners’ Mercedes Bent about supporting blockchain startups on the future of consumer fintech. More details below.
Last week we talked about how the crypto industry should think for a moment about buying the love of its followers. This week we look at the plight of America’s favorite public crypto company
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the hottest reception
While crypto markets were relatively stable after last week’s massive downturn, this week’s list of institutional investors and retailers was bleak, predicting that crypto winters would affect all households over the next few years.
VCs’ message to crypto-starters, mega-corporations “cut the fat” – an announcement that does not fit well with lavish opening parties – plans to increase the number of hires, which seemed to be working on many founders last month. It was an unprecedented boom for crypto startups, but life seemed a little less enjoyable for Coinbase as bitcoin և public markets peaked in November last year.
Coinbase is currently trading below $ 65 a share, after falling more than 80 percent from its November high. Many other technology stocks in the public market are also hurting, but compared to how much Coinbase made last year, it is clear that investors have zeroed their expectations for the company’s future performance. Coinbase had a net profit of $ 7.4 billion in 2021, currently with a market capitalization of less than $ 14 billion. It’s a nut.
Public market investors may not have the brightest view of Coinbase, but the question is how it actually affects the company. Well, the company adjusts its growth expectations for one thing. COO Emilie Choi announced this week that the company is hitting the brakes. “We plan to triple the size of the company this year. “Given the current market conditions, we think it makes sense to ‘reassess’ the hiring process.”
This is to be expected, but not great for a company that has several cash competitors pursuing their market share. The company is diversifying its offerings, trying to use its network to provide more browsers for the newborn Web 3 world, but it is not clear what kind of consumer pickup the crypto world will see next year compared to the previous pair, something that the company has left rather gloomy. in the near future…
the latest podcast
Hey, that’s it Anita, here to update you on our latest episode of Chain Reaction, where we unveil the latest Web3 news for block-by-block crypto-currencies.
We talked about this episode 30-year-old blockchain billionaire Sam Benkman-Fried (SBF) by buying a 7.6% stake in Robinhood – what it can plan to do to help reverse the difficult stock market in the first half of the year. We also explained the difference between custody and non-custody wallets because Robinhood just announced it runs the latter. the latest in a series of new products designed to attract more users to its platform.
As we talked about Robinhood, we had to investigate what was happening to its competitor, Coinbase, which this week said it would slow down its hiring plans due to the crypto market crash. We introduced the audience to the latest infamous UST, stablecoin, which (sort of) started it all.
Our guest this week was Mercedes Bent, an investor in Lightspeed Venture Partners, who helped us open up the term metaverse, talking about some of the long-term potential he sees in areas such as web3 video games.
Look for the money!
Where is the newly created money moving in the crypto world?
- Cross wallet BitKeep: banks are $ 15 million from Dragonfly
- Treasury Management Startup Coinshift: receives $ 15 million from Tiger Global
- Crypto startup: TipTop: raises $ 24 million from a16z
- Web3 social startup CyberConnect: earns $ 15 million from Animoca և Sky9
- Smart contract security operation Serora Earns $ 36 million from Jump
- Crypto Education co: Encode Club: raises $ 5 million from Galaxy Digital և Lemnis Capital
- Crypto games co: Sightseeing banks $ 24 million from a16z
- Investment DAO: Seed Club earns $ 15 million from Union Square Ventures, among others
- Crypto investment company Elwood Technologies: Receives $ 70 million from Goldman Sachs
- Web3 Studio: Gusto collective Raised $ 11 million from Animoca
Animoca Brands has become one of the largest companies in the world of’s NFT games, but its co-founder Yat Seun told TechCrunch that there is a new area where the company wants to enter – education. No, it is not cryptocurrency education, but more general educational tools that can be applied to more than one subject. Syun said he hopes to run the teacher economy on a “learn-earn” or “teach-earn” model so that teachers ‘and students’ time can be rewarded in the form of a token or cash. This drive could be a new impetus for the crypto ecosystem to use additional ways to earn rewards.
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