Andreessen Horowitz led a $65 million round of investing that valued the buzzy newsletter startup Substack at $650 million, Axios reported. The heady valuation underscores how Silicon Valley venture capitalists are pushing up the prices of hot startups as they chase deals. Andreesen is an existing investor. Substack has seen its popularity rise as journalists and others join the online...
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Why the CFTC’s Binance Lawsuit Is Good News for Coinbase
Privately held crypto exchanges are setting new lows in corporate governance. If you thought the initial bankruptcy filing for Sam Bankman-Fried’s FTX was stunning in what it revealed about how that company was run, check out the Commodity Futures Trading Commissions lawsuit against Binance today. Here’s a business empire controlled by one person, Changpeng Zhao, which has no board of directors...
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