Is this the beginning of the end for Bolt?⚡️; DCG is starting to shake 👀; Cryptocurrency infra is the hottest thing in crypto right now🔥

FinTech is Eating the World, 26 January

Hey Everyone,

Happy Thursday! Today we’re looking at Bolt, which is laying off again (is it the beginning of the end for the one-click checkout firm?), DCG which is starting to shake (Genesis is watching closely), and cryptocurrency infra, which is the hottest thing in crypto right now (and might only get hotter!). Let’s jump straight into the excellent stuff.

Is this the beginning of the end for Bolt?⚡️

The news 🗞 One-click checkout company Bolt has done layoffs. Again.

More on this 👉 This is at least the third round of layoffs at the FinTech firm since last May, according to The Information, which broke the story.

Last valued at $11 billion, Bolt has just axed another 50 employees, meaning that the online checkout company has seen its headcount shrink by more than half in under a year. That’s brutal.

CEO Maju Kuruvilla told an all-hands meeting this week that “quite a few” of Bolt's recent moves, including partnerships, new products, and acquisitions, had not worked out, says The Information.

What does this tell us? 🤔 Remember Fast? Unfortunately, but it seems that Bolt might be going down a similar route too. And numbers prove that.