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Exclusive: Daily Crunch: After filing for bankruptcy, crypto lender Voyager Digital says it will ‘maintain operations’ –



Daily Crunch: After filing for bankruptcy, crypto lender Voyager Digital says it will ‘maintain operations’

#Daily #Crunch #filing #bankruptcy #crypto #lender #Voyager #Digital #maintain #operations

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here.

Greetings, and happy Wednesday! I had to check the calendar before I said the day because does anyone really know what day it is anymore? Amanda had me cracking up with her story on waiting for a new release of Nintendo Switch, only to have the news be something else. I also enjoyed the latest Equity podcast where Natasha and Alex discussed why everyone is copying off each other. Anyway, big tech and crypto news dominated our homepage today, so I have a lot of that for you. Let’s get started! — Christine

The TechCrunch Top 3

  • When one falls, another falls: Manish is on a roll this week, writing another top story, this time about Voyager Digital, a crypto broker, filing for bankruptcy. It seemed to be a domino effect for the company, which cited Three Arrows Capital’s bankruptcy announcement from last week as one of the factors. Seems Three Arrows owed Voyager Digital some $650 million. Not chump change for sure.
  • Scraping by: Meta is suing Octopus Data, the U.S. subsidiary of a Chinese company alleging this company offered data-scraping services for Facebook and Instagram, Paul reports. So you don’t have to look that up, data scraping is a means of using automated tools to gather data from websites “en masse.” Paul says this is particularly timely as a U.S. court “reaffirmed an earlier ruling that web scraping is legal” less than 3 months ago. Back to the drawing board they go.
  • Biting into food delivery: Amazon is trying a new approach to not only get a foot into restaurant delivery, but also attract more Prime members. The marketplace giant is partnering with Grubhub to offer free membership to Grubhub+ (everyone has a “plus,” huh?) for 1 year, Ingrid writes.

Startups and VC

It seems that Bolt and Authentic Brands Group, Forever 21’s parent company, have kissed and made up. Authentic was initially suing Bolt with claims that Bolt had not delivered the one-click checkout technology that was promised, which resulted in the company missing out on some $150 million in sales. Mary Ann reports that the suit was settled “amicably,” and Authentic is now even a shareholder. That was some negotiation.

Crypto gaming startup Cauldron closed on $6.6 million toward the goal of becoming the “Pixar of web3,” Jacquelyn writes. The company told her it wants to do more storytelling and create a legacy with its Project Nightshade game à la how Pixar did with “Toy Story.” To infinity and beyond!

Celus wants to automate the way circuit boards are designed and picked up $25.6 million in new capital to leverage its artificial intelligence technology so that a printed circuit board could be redesigned in a matter of minutes, Paul writes.

What else have we got? Here’s some more:

  • This fund is on fire: Rita writes about Bonfire Union, Mask Network’s venture arm, and its first fund of $42 million to “invest in web3 like Tencent does in web2.” Oh, and she also wrote about Nothing and its Black Dot NFT.
  • Everyone deserves digital: I wrote about Finli, a startup that raised $6 million in new funds to continue developing its payment management app for service-based businesses.
  • An apple for the teacher: Online testing software startup Azota took in $2.4 million to assist Vietnam’s teachers in creating and grading tests, Catherine writes.
  • At it again: Kate reported that Korean telecom company KT definitely liked what it saw in Rebellions, an AI chipmaker. The startup got another $22.8 million funding from KT just a month after KT poured $50 million into it.
  • Blop, blop, fizz, fizz: Jordan spoke with Wonderbelly founders Noah Kraft and Lucas Kraft, the Doppler Labs founder, to discuss the antacid startup’s new $3.3 million funding and its mission to take on Tums.

Dear Sophie: How can we transfer a candidate’s H-1B and green card?

lone figure at entrance to maze hedge that has an American flag at the center

Image Credits: Bryce Durbin/TechCrunch

Dear Sophie,

My startup needs to hire an AI expert, and our top candidate has a complicated immigration situation. She’s from India and has been on an H-1B for more than 6 years. Her current employer applied for an EB-2 green card on her behalf about 4 years ago through the PERM process. She’s been waiting for a green card number since she was approved and says it may take several more years before she receives it.


She is asking us to transfer her H-1B and green card to our company. Can we do it? Do we have additional options to retain her?

— Advancing AI

(TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can sign up here.)

Big Tech Inc.

More crypto to see here! Jacquelyn does a deep dive into the second quarter’s cryptocurrency company losses, which are down 52% from the same period last year.

Meanwhile, Kyle writes that IBM acquired Databand for its observability capabilities in helping “customers better identify and fix data issues including errors, pipeline failures and poor quality.”

In cybersecurity news, hotel giant Marriott found itself on the wrong side of another data breach, Carly writes. She also laid out a claim by the U.S. government that North Korean hackers are targeting some of the country’s healthcare organizations with their ransomware. Meanwhile, Zack reports that Apple’s new lockdown mode “will switch off certain features aimed at helping targeted individuals combat government-grade spyware.”

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Exclusive: Rezonate raises $8.7M and launches its cloud identity protection platform out of stealth –




Rezonate raises $8.7M and launches its cloud identity protection platform out of stealth

#Rezonate #raises #87M #launches #cloud #identity #protection #platform #stealth

Rezonate, a Boston- and Tel Aviv-based startup that offers an agent-less cloud identity protection platform that aims to help DevOps teams minimize attackers’ opportunities to breach cloud identity and access, is coming out of stealth today and announcing an $8.7 million seed funding round, led by State of Mind Ventures and Flybridge, with participation from toDay Ventures, Merlin Ventures and a number of angel investors.

Founded in January 2022, Rezonate is part of a group of modern identity and access management (IAM) startups that aim to modernize the current state of affairs in this space, which is struggling to meet the demands of modern cloud infrastructure systems. This shift is creating new attack surfaces, especially as enterprises move to the cloud — and more dynamic infrastructure systems — at an ever-increasing rate. The number of security breaches stemming from issues with identity and access management is already on the rise. Indeed, Gartner expects that by 2023, “75% of security failures will result from inadequate management of identities, access, and privileges.”

Image Credits: Rezonate

Co-founder and CEO Roy Akerman was previously the head of the Israeli Cyberdefense Operations, while Rezonate co-founder and CTO Ori Amiga previously led R&D for this unit. Both received the Medal of Honor for their contributions to Israel’s National Security.

“The rapidly-changing cloudscape together with the proliferation of human and machine identities requires a different approach,” said Akerman. “Modern infrastructures require a precise and nimble way to outsmart attackers. One that prioritizes cloud identities and access at its core and is constantly adapting to current dynamics over yesterday’s snapshots and, for the first time, gives defenders and builders the means to act confidently.”

Image Credits: Rezonate

Rezonate promises to discover all of a company’s cloud and identity providers and the corresponding access privileges of its employees. The platform automatically detects security gaps and abnormal access attempts in real time. Rezonate promises that within minutes of deploying its solution, its platform can identify cloud identity and access risks and provide guidance for remediating them, or even automatically remove access and terminate sessions.

At the core of all of this is what Rezonate calls its ‘Identity Storyline,’ which aims to provide DevOps and security teams with a context-rich dashboard that helps them understand the security risk across a company’s cloud estate. With this, users get an easy-to-read dashboard that clearly lays out what kind of access every user has — and where there are potential issues.


“The fact that in just ten months from our first line of code we already have active customers, solving key gaps daily, affirms the criticality of the cloud identity and access issue. In a cloud world where everything is changing all of the time, DevOps teams need a solution as dynamic and automated as the infrastructure they need to protect is,” said Amiga.

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Exclusive: Building a Prospecting Motion: How to Outreach Like a Pro –




Building a Prospecting Motion: How to Outreach Like a Pro

#Building #Prospecting #Motion #Outreach #Pro

The core responsibility of business development is to generate a pipeline of new business opportunities. For teams looking to close new customers, this work is indispensable.


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Exclusive: 5 things to know before the stock market opens Tuesday –




5 things to know before the stock market opens Tuesday

#stock #market #opens #Tuesday

A trader works on the floor of the New York Stock Exchange (NYSE), December 5, 2022.

Brendan McDermid | Reuters

Here are the most important news items that investors need to start their trading day:

1. Rough start

Stocks got off on the wrong foot this week with an ugly selloff Monday as investors weighed strong new economic data that stoked worries of sustained rate hikes from the Federal Reserve. The Dow dropped more than 480 points, while the S&P 500 declined 1.79% and the Nasdaq fell 1.93%. When it meets next week, the Fed’s policy-setting committee is expected to raise its benchmark rate by half a percentage point, which is less than the three-quarter-point hikes of the past few months but still sizable. Smith & Wesson and Stitch Fix earnings are set to hit after the bell Tuesday. Read live market updates here.

2. Salesforce slumps

Bret Taylor, co-chief executive officer of Inc., right, and Marc Benioff, co-chief executive officer of Inc., wear rabbit ears during a keynote at the 2022 Dreamforce conference in San Francisco, California, on Tuesday, Sept. 20, 2022.

Marlena Sloss | Bloomberg | Getty Images

3. Most Ford dealers sign up for EV plan

4. Biden touts Arizona chip investment

U.S. President Joe Biden speaks prior to signing railroad legislation into law, providing a resoluton to avert a nationwide rail shutdown, during a signing ceremony in the Roosevelt Room at the White House in Washington, U.S., December 2, 2022. 

Kevin Lamarque | Reuters

5. Russia ratchets up missile attacks

A building burns after shelling in Bakhmut, Donetsk region, on December 4, 2022, amid Russia’s invasion of Ukraine.

Yevhen Titov | Afp | Getty Images

And one more thing …

Actress Kirstie Alley

Noam Galai | Wireimage | Getty Images

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