Make cryptocurrency accessible

Hello reader,

The dragon’s blood is really strong.

Even before the second episode of HBO’s new fantasy series Dragon House is out, the show is renewed for a second season! After all, the premiere, which aired on Monday, has already been viewed by 20 million people and counts, the highest for any new original show in HBO history.

Elsewhere, the national indices closed up on Friday, if only by a hair. The BSE Sensex ended the day up 0.10% at 58,833 while Nifty50 rose 0.21% to end at 17,558.

Meanwhile, the LastPass password manager got pirate. However, he does not believe that any passwords were compromised and users should not have to take steps to secure their accounts.

ICYMI: A 17-year-old has become the youngest person to circumnavigate the globe solo. Mack Rutherforda dual Belgian-British national, landed in Bulgaria earlier this week, where his journey began five months ago.

In today’s newsletter we will talk about

  • Make cryptocurrency accessible
  • Sequoia sells part of its stake in Zomato
  • Innovation in the men’s loungewear segment


Make cryptocurrency accessible

For cryptocurrencies to gain popularity, they must also be accessible. With this vision, Ray Youssef launched Paxful, a peer-to-peer cryptocurrency exchange where nearly 10 million users regularly trade across the globe.

“It’s a business that has to grow from the bottom up and it takes huge amounts of education, investment in people and risk and it has to be built from the ground up,” he says.

Improved accessibility:

  • Paxful is used to send money to families for e-commerce, import and export.
  • More than six million transactions on Paxful come from Africa.
  • Although it specializes in Bitcoin, users can make payments for BTC through Ethereum, Litecoin, Monero, and Golem.


Sequoia sells part of its stake in Zomato

After Tiger Global and Uber, Sequoia Capital India sold its partial stake in food tech decacorn Zomato after the end of the mandatory one-year lock-up period following the IPO last year.

Sequoia Capital India will sell 171,904,811 voting shares, which it holds through Sequoia Capital India Growth Investment Holdings I and Sequoia Capital India Growth Investments II.

Key points:

  • It comes after Zomato lowered the Blinkit investment forecast to $320 million for balance.
  • Sequoia Capital India Investments IV received an additional 45,153,346 shares in Zomato in August 2022 following the acquisition of Blink Commerce, which operates Blinkit.
  • Shares of Zomato closed at Rs 61.90 per share on Friday, down from its previous close of Rs 62.05 per share on BSE.

Image source: Shutterstock


Innovation in the men’s loungewear segment

Considering the lack of product innovation in the loungewear market, Yogesh Kabra decided to fill the void with a brand that is not only rooted in comfort and functionality, but is also fun, playful and aesthetic.

Today, XYXX Apparels has become a popular men’s loungewear brand among millennials. In the past six months, the brand has grown to more than 14,000 multi-brand outlets.

Rapid growth:

  • The startup sells three lakh units, mostly men’s underwear, every month.
  • It experienced 300% year-over-year growth in FY22 compared to the prior year.
  • XYXX recently announced a raise of Rs 90 crore, contributing to a total of Rs 135 crore raised so far.

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