Another brutal week for crypto and crypto companies – TechCrunch

Hi all! Welcome back to Week in Review, the newsletter where we recap the most read stories to cross TechCrunch over the last week. Our goal: If you’ve had a busy few days, you should be able to click into this on Saturday, give it a skim, and still have a pretty good idea of what went down this week.

I’ll be AFK for the next two newsletters, with the excellent Henry Pickavet subbing in for me while I’m gone. Henry is one of the best humans I know — so be nice!

The most read story this week, unfortunately, was one of layoffs — specifically, layoffs at Coinbase. The crypto exchange announced on Tuesday that it’ll be laying off 18% of its workforce, with CEO Brian Armstrong saying the company “grew too quickly” in the last year and a half.

other stuff

Kaiser breached: Oof. One employee email account hacked, nearly 70,000 patient records potentially exposed. In a notice sent to impacted patients, Kaiser says the “potentially exposed” data included names, dates of service and lab test results.

More layoffs: Coinbase wasn’t the only company to disclose layoffs this week. Real estate tech companies Redfin and Compass both confirmed cuts of around 450 employees each, while Canadian fintech Wealthsimple laid off nearly 160.

Spotify buys a voice-simulation company: In 2014, Val Kilmer underwent a tracheotomy as part of his treatment for throat cancer. For his role in the recently released “Top Gun: Maverick,” London-based startup Sonantic was asked to re-create Kilmer’s voice with AI. This week, Spotify announced that it is acquiring Sonantic. Why? They’re not getting too specific, but it’s not too hard to think of ways Spotify could put realistic-yet-simulated voices to use — think indie audiobooks or auto-generated podcast commercials.

Elon sued over Dogecoin: Is it Elon’s fault that Dogecoin — a cryptocurrency that started as a joke — massively spiked in value and then imploded? A class action lawsuit filed in Manhattan…


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