downturn

Welcome back to Chain Reaction. Last week, we looked at Musk holding onto doge. This week, we’re talking about where all of this crypto VC money is possibly gonna go. To get this in your inbox every Thursday, you can subscribe on TechCrunch’s newsletter page. maybe, it’s all a game? A weekly dispatch from the desk of TechCrunch crypto editor Lucas Matney: The reality is that the dreams of web3 investors and founders are facing a bit of a jam — a crypto downturn generally means less hype, fewer conversations between…

Meta Platforms says it will no longer pay US news organisations to have their material appear in Facebook's News Tab as it reallocates resources in the face of the economic downturn and changing user behavior.The company said Thursday that most people “do not come to Facebook for news, and as a business it doesn't make sense to over invest in areas that don't align with user preferences.”Meta, then called Facebook, launched the partnerships in 2019. The “News Tab" section in the Facebook mobile app only displays headlines…

After the 2008 financial crisis, the U.S. relied heavily on the Federal Reserve to stimulate growth, leading to a frequent quip that monetary policy had become the “only game in town.”Now, high inflation is fanning fears this is true again but in the opposite direction: Washington risks relying excessively on the Fed to lower inflation by reducing demand rather than have other policy makers work to increase the economy’s capacity to supply more goods and services or workers. The danger is the Fed will raise interest rates…

Many top cryptocurrency projects have joined the movement to establish a viable infrastructure for Web 3.0 and facilitate a smooth user transition. Amid the raging global polarities and the regulatory concerns, most of us deflect from the matter at hand. The matter focuses on the elementary concept of the fabled ‘Cryptocurrency’ tech. While the majority of the global populace is busy contemplating new ways to invest, crypto and blockchain need to be first regarded as cornerstones of something bigger, i.e., Web…

A new report says Apple is planning to slow hiring and cut spending growth in 2023 as it prepares for a potential economic downturn. The news comes from well-connected insider Mark Gurman at Bloomberg, who says that Apple’s decision “stems from a move to be more careful during uncertain times, though it isn’t a companywide policy.” That means the changes might not impact all of Apple’s team. Gurman says Apple is planning an “aggressive” 2023 launch schedule including a new Apple VR headset. A more cautious tone The…

Viola Zhou / Rest of World: China's crackdown and economic downturn have led to massive layoffs in its tech sector, but some workers are relieved to exit the industry's “996” work schedule — A government crackdown and economic downturn have led to massive layoffs, but some are relieved to exit the grueling ‘996’ work life. Viola Zhou / Rest of World: China's crackdown and economic downturn have led to massive layoffs in its tech sector, but some workers are relieved to exit…

European insurance tech startup Wefox has raised $400 million in a series D round of funding, giving the German company a post-money valuation of $4.5 billion. This represents a 50% increase on last year’s $3 billion valuation at its series C round. Founded out of Berlin in 2015, Wefox sells various insurance products through a combination of in-house and external brokers, bypassing the direct-to-consumer model of insurtech competitors which include rival German startup Getsafe. This way of growing users, by getting…

These are turbulent times for both crypto investors and projects alike. Over the past several months, Bitcoin and Ethereum have seen substantial declines in their token prices. But investors have given even bigger haircuts to the breakout success stories of the 2021 bull run. Solana, a newer blockchain with early Silicon Valley backers, has watched its token price drop from $260 in November 2021 to a low of $26 last month. Despite the aggressive selloff, Solana continues to show signs of…

It’s nearly been two months since we started this accidental weekly column about layoffs happening within startups. Workforce reductions have impacted startup employees in every massive sector, from crypto to SaaS to edtech and mobility. And what felt at first like a trend that only impacted growth-stage startups that had gotten over their skis, a much wider swath of companies has begun letting employees know they are making meaningful cuts. TechCrunch listed this week’s known and confirmed layoffs below: Ro, a…

We're raising cash about equal to what we put to work last Friday in three trades when the market was much lower. We're raising cash about equal to what we put to work last Friday in three trades when the market was much lower. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their…