Venture capital fund returns were negative for three consecutive quarters last year for the first time in over a decade, The Wall Street Journal reported , citing PitchBook data. In the third quarter of 2022, the annual internal rate of return reached negative 7%, the lowest since 2009, according to the report. While venture capitalists may say they’re still optimistic about the industry’s...
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‘A Total Nightmare’: Transfer Delays With New Apple-Goldman Savings Accounts Prompt Complaints
When Kevin Smyth learned in April that Goldman Sachs and Apple were offering a savings account with higher yields than anyone else, he jumped at the chance to shift money that was earning less at another online bank. But within a few weeks, when he had to withdraw a small portion of the funds to pay for a home renovation, everything went awry. A transaction that was supposed to take one to...
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MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.