FTX
Facts
- HQ
- Previously Bahamas / global operations
- Sectors
- Cryptocurrency, Cryptocurrency exchange
Navigating the Dynamics of Startup Boards: Managing Disagreements & Effective Governance
In this episode, Madrona Managing Director S. Somasegar and General Counsel Joanna Black discuss the fundamental role of a board in a startup's growth and development. They touch upon the importance of aligning strategic views with board members, managing disagreements, and effective governance to ensure that the organization is run efficiently. The duo offers numerous insights into the intricacies of board structure at different stages of a startup lifecycle, drawing parallels from recent events at OpenAI. The conversation covers the need for transparency, both in sharing good and bad news, and the necessity for a functional board reflecting a functional…
Seattle AI Startup Kaito Raises $5.3M Led by Dragonfly to Build Crypto-Focused Google-Like Search Engine
Seattle startup Kaito, founded in 2022 by Yu Hu, raised $5.3 million led by Dragonfly to develop an AI-powered search engine that aggregates scattered cryptocurrency information from across the web. Kaito aims to simplify crypto research by integrating AI tools like GPT-3 and offering both free retail and subscription-based institutional versions.
Former Starbucks Exec Adam Brotman and Investor Andy Sack Raise $10M for Forum3 to Expand NFT Loyalty Tech
Seattle tech veterans Adam Brotman and Andy Sack raised $10 million to launch Forum3, a startup offering NFT-based customer engagement tech designed to simplify blockchain use for consumer brands. Forum3 aims to provide a white-labeled version of Starbucks' NFT loyalty program, Odyssey, removing cryptocurrency barriers for users.
FTX Collapse Sparks Industry Turmoil as Seattle Crypto Startups Secure $30M Funding Amid Market Downturn
The collapse of FTX caused significant disruption in the crypto industry, impacting companies like BlockFi and Genesis, and leading to a decline in venture capital investments in crypto startups. Despite these challenges, Seattle-area crypto startups have secured about $30 million in funding this year, with optimism persisting among local crypto leaders.
Gemini Plans to Hire 100 Staff in Seattle Amid Crypto Market Turmoil and Prior Layoffs
Gemini, the cryptocurrency exchange co-founded by the Winklevoss twins, plans to hire 100 people at its Seattle-area hub amid recent crypto market turmoil and after previous layoffs. Despite a drop in crypto prices and industry challenges, Gemini's Cameron Winklevoss remains optimistic about Bitcoin's long-term value and the company's growth plans.
StormX signs five-year, eight-figure jersey patch deal with Portland Trail Blazers starting 2021-22
Seattle crypto startup StormX signed a five-year, eight-figure jersey patch deal with the NBA’s Portland Trail Blazers starting in the 2021-22 season, becoming the first cryptocurrency company to sponsor an NBA jersey. The agreement includes in-arena branding, exclusive blockchain partner rights, international marketing/distribution rights, and highlights StormX’s growth (3M+ app downloads, $209M token market value).
