CM Weekly: DeFi Eats CeFi, Evaluating Job Offerings, and FTX by the Numbers.
Chris McCann's weekly newsletter on technology, startups, and venture capital.
A huge congrats to one of our portfolio companies Saber, who is building DeFi's cross-chain liquidity network.
Saber officially launched on July 27th and in less than a month crossed $600M in total value locked (TVL) in the platform. Congrats to the Macalinaobrothers on the execution speed and growth! 🚀
Written by Chris McCann, General Partner @ Race Capital, former Greylock Partners. More about me.
🗞️ Tech News Last Week
OnlyFans banned explicit content on their site (the overwhelming majority of their content?) due to pressures from their payment processor (Mastercard).
Coinbase is purchasing $500M of digital assets on their corporate balance sheet and investing 10% of their profit in digital assets going forward.
Google and other large tech companies are considering pay cuts for employees who want to stay remote.
FTX numbers in the first half of 2021: $1.87T in assets traded and 56X increase in users, all with a team of 110 people.
🤔 Deep Dive Posts
Robinhood's revenue driven by crypto went from 2% to 41% from 2020 to 2021. 60% of their users traded crypto in Q2 and now hold $22B in digital assets. Crypto is officially eating the fintech market.
Thoughts on evaluating job offers from startups, by the one and only Josh Elman.
Through the antitrust lawsuit, it was revealed Google gives out preferential treatment to big game publishers.
An internal memo Brian Armstrong sent out to their product managers in 2016 on how to best set them up for success.
🔥 Race Capital - Portfolio Jobs
Polysign: Senior BSA Analyst (New York, NY)
FTX: Full Stack Developer (Miami, FL)
Opaque: Product Manager (Berkeley, CA)
SocialChat: Operations manager (San Francisco, CA)
GoodNotes: Back-End Team Lead (London, UK)
Browse more open roles across our portfolio at Race Capital's Portfolio Job Board
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