CM Weekly: FTX Speedrun, Stablecoins, and Why Investors Say No

Chris McCann's weekly newsletter on technology, startups, and venture capital.

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Written by Chris McCann, General Partner @ Race Capital, former Greylock Partners. More about me.

🗞️ Tech News Last Week 

  • Square acquired AfterPay (a buy now pay later BNPL company) for $29B in an all stock deal, which was about 25% of the total value of Square. It’s a huge deal and Afterpay has 98K merchants in its network doing ~$21B in GMV.

  • Robinhood, the king of meme stock trading, has turned into a meme stock themselves, trading up 100% then down 50%

  • Apple, a major proponent of consumer privacy, announced a new photo identification feature which is a major violation of privacy principles. 

  • Inside the "infrastructure bill" set to pass in the US Senate includes new regulations for the crypto industry which are both poorly written and a huge overreach. Why crypto regulations are even inside an infrastructure bill to begin with is beyond me...

🤔 Deep Dive Posts

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