Another brutal week for crypto and crypto companies – TechCrunch

Hello everyone! Welcome back to Review Weekly, communication We take a look back at the most read stories on TechCrunch last week. Our goal: If you’re busy these days, you should be able to click through on Saturday, skim a bit, and still have a good idea of ​​what’s going on this week.

I’ll be AFK for the next two newsletters, and the wonderful Henry Pickavet will speak for me while I’m away. Henry is one of the nicest people I know – so be nice!

This read the most Unfortunately, this week’s story is one of layoffs — specifically, Coinbase layoffsThe cryptocurrency exchange announced on Tuesday that it would lay off 18 percent of its workforce, with CEO Brian Armstrong saying the company had “grown too fast” over the past year and a half.

other things

caesar breakthrough: Ha ha. An employee’s email account was hacked and nearly 70,000 patient records may have been compromised. In a notice sent to affected patients, Kaiser said the “potentially exposed” data included names, dates of service and laboratory test results.

more layoffs: Coinbase isn’t the only company to disclose layoffs this week. Real estate tech companies Redfin and Compass all confirmed Each cuts around 450 jobs, with Canadian fintech Wealthsimple laying off staff nearly 160.

Spotify acquires a voice simulation company: In 2014, Val Kilmer underwent a tracheotomy as part of a treatment for throat cancer. For his role in the recently released Top Gun: Maverick, London-based startup Sonantic was asked to recreate Kilmer’s voice with AI. This week, Spotify announced that it would acquire Sonantic. Why? They don’t get too specific, but it’s not hard to think of ways Spotify could use realistic but simulated sounds — think standalone audiobooks or auto-generated podcast ads.

Elon sues Dogecoin: Dogecoin — a cryptocurrency that started as a joke — soared in value, then imploded, is it Elon’s fault? The class-action lawsuit filed this week in Manhattan alleges Musk “used his status as the world’s richest man to operate and manipulate a Dogecoin pyramid scheme for profit, exposure and entertainment” and seeks $258 billion in damages.

Letter from SpaceX: SpaceX employees released an “open letter” to the company’s internal chat system on Wednesday this week, saying “Elon’s behavior in the public domain is often distracting and embarrassing” and asking SpaceX to “quickly and explicitly self-isolate” from Elon personal brand. ” By Friday morning, at least one employee involved in the letter has been terminatedSpaceX president Gwynne Shotwell called it “excessive activism.”

audio stuff

Did work say it’s time to go back to the office? Need something to listen to on your commute? Ever wonder what your favorite TechCrunch writers sound like? good news! We have podcasts.entire pile, actually. (Fun fact: Given our spread around the world, many of us talk more on podcasts than in real life.)

This week, Lucas and Anita sat down with the incomparable Aaron Levie (CEO of Box) to discuss his thoughts on web3 — specifically why it doesn’t work.check chain reaction.

added stuff

Want more TechCrunch? Head over to the aptly named TechCrunch+, where we can dig deeper into the topics our subscribers tell us they care about. Some of the goodies this week include:

Which visa is best for starting a business?: Immigration attorney Sophie Alcorn is back with another edition of the ‘Dear Sophie’ advice column, this time helping a German founder find the right way to start a business in the US

Brex exits the SMB market. What’s next?: This week, Brex announced it would largely exit the small and medium business market, with plans to cut services for its small clients on August 15. Alex and Mary Ann take a look at what this means for the market – and Brex’s competitors.

What’s the catalyst behind the cryptocurrency crash?: Cryptocurrency prices continued to slide this week. Why? In this week’s episode of The Exchange, Alex outlines some of the “biggest problems plaguing the web3 market right now.”