Job Cuts Were Necessary: BitGo CEO
THE SO WHAT
A 15% workforce cut less than six months post-IPO is another reminder that public-market discipline hits crypto infra just like any other sector. If you're scaling in this space, build a cost base that can survive both fee compression and volume swings.
READ THE SOURCE
MORE FROM THE WIRE
Startups & VentureOratomic Raises $300 Million Series A
A $300M Series A for Oratomic to chase fault-tolerant quantum by decade’s end is a bet that “commercial utility” is closer than most roadmaps assume. If you’re in finance, materials, or logistics, start a low-burn track to inventory problems that could flip from intractable to tractable under early quantum access.
Startups & Venture'These are hard, but necessary decisions' — Xbox pulled funding for Io Interactive's 'Project Fantasy' but the developer will continue working on the game independently
Platform funding is proving cyclical—when a backer like Xbox pulls out, only studios with real IP, community, or cashflow can keep big projects alive. If your roadmap leans on a single strategic partner, treat this as a prompt to diversify funding sources or scope projects so they can survive a sudden capital shock.
Hot job alert: OpenAI is hiring an investment banker, paying up to $205K plus equity
Bringing investment banking expertise in-house at $205K + equity suggests OpenAI expects a steady pipeline of complex deals — structured partnerships, secondaries, or spinouts — not just one-off fundraises. If you’re a strategic partner or acquirer, assume they’ll negotiate like a bank, not a typical startup.
Startups & VentureTangos, which uses AI to conduct financial crime investigations at scale, raised a $20M seed led by Red Dot
A $20M seed for AI-driven financial crime investigations says regulators and banks are ready to outsource parts of AML/KYC workflows to specialized stacks. If you operate in fintech or banking, expect supervisors to start asking why your investigative throughput and false-positive rates don’t look more like what these tools promise.