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Home›Search Engine Stocks›Binance admits hackers used cross-chain bridge to steal at least $100 million

Binance admits hackers used cross-chain bridge to steal at least $100 million

By Katharine Fleischmann
October 7, 2022
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Friday!

How’s that for brevity in newsletter introductions? Let’s go so we can open a liquid death and let the week crumble into the murky distance of memory sooner rather than later. — Christina and haje

TechCrunch’s top 3

  • Oh oh: Binance, one of the largest cryptocurrency exchanges in the world, has confirmed that it has found a breach in the blockchain bridge where hackers seized $100 million. Carly see you.

  • Turn elephants into unicorns: Anne reports that Kenyan tourism-focused startup studio Purple Elephant Ventures is raising $1 million in pre-seed funding to bring some modernization to the industry.

  • What to do until you see the picture: Amazon’s Scout just makes you want to go there and give it a pat. Unfortunately, you may not get the chance. After three years of unveiling the robot, the delivery giant said it was downsizing the program, brian reports.

Startups and VCs

Wildfires have become a growing threat as homes are built closer together and the growing impacts of climate change wreak havoc on natural landscapes. Entrepreneurs, in response, have begun to develop technologies to minimize the scale and damage of these natural disasters. Convective Capital is a new venture capital firm looking to back them, and it’s raised $35 million to do so, Beca reports.

haje I got really annoyed with startups taking liberties with its market sizing, complaining that if you’re a car dealer, your total usable market isn’t the value of the cars you sell (that’s the SOM for the automaker car). Your SOM is the total value of sales commissions, service plans, aftermarket goods and services, and anything you can actually earn money on.

And we have five more for you:

7 investors discuss how agtech can solve agriculture’s biggest problems

Agricultural sprayer in aerial view in the field; agtech

Picture credits: The creative drone (Opens in a new window) /Getty Pictures

Of all the industries in the world, none is perhaps more susceptible to the dangers of climate change than agriculture.

There is a consensus among reputable scientists that the amount of CO2 we release into the atmosphere makes extreme weather events worse. What impact does this have on how agtech VCs operate in a downturn?

To find out more, we surveyed:

  • Brett Brohl, Managing Director of Techstars Farm to Fork and Managing Partner of Bread and Butter Ventures

  • Monica Varman, Partner at G2 Venture Partners

  • Jinesh Shah, Managing Partner at Omnivore

  • Adam Anders, Managing Partner at Anterra Capital

  • Ting Ting Liu, investor, and Ashutosh Sharma, Indian director of Prosus Ventures

  • Camila Petignat, Partner at The Yield Lab

Three others from the TC+ team:

Tech Crunch+ is our membership program that helps founders and startup teams get a head start. You can register here. Use code “DC” to get 15% off an annual subscription!

Big Tech inc.

Google plans to open its first data center in Japan by 2023, Ivan writing. The center is part of a $730 million infrastructure fund and will be the search engine giant’s third in the region.

Meanwhile, Kyle and Amanda looked at AI-powered music generators and its place in an industry where it usually pays to be able to use your natural human abilities.

And five more for you:

  • Sharing is caring: A new Twitter feature encourages users to share the tweet instead of taking a screenshot and then posting it on other social networks, Ivan writing.

  • Press pause: A judge has ruled that Musk’s lawsuit against Twitter can be temporarily suspended while the two sides reach an agreement, Amanda reports.

  • It’s Mariooooooo: Amanda gives you a sneak peek at the new “The Super Mario Bros. Movie,” where she writes, “So far, Chris Pratt’s Mario looks more like Andy Dwyer than Star-Lord, and we like that about him.”

  • Make adjustments: Shopify has agreed to add some consumer safety features to its app in Europe, including a faster and easier way for national consumer protection authorities to report issues, Natasha L reports.

  • open a cold: Pepsi is in the front line to get some of the first deliveries of Tesla Semi, Kirsten writing.

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  4. GameStonk rallies in Oz? – Firm tacks nearly unknown on 667%
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