Finance

How Personal Finance Pressures Impact Founders’ Exit Decisions

When founders seek advice on exit planning, the focus is often on operational and administrative efficiency in preparation for the big transition. However, prospective sellers should also consider optimizing their personal circumstances, especially regarding income and financial security.

This is the perspective of Matt Ford, CEO and co-founder of Sidekick Money, a financial services startup positioned as a wealth management platform for the “financially ambitious.” Ford previously sold his business, the money and debt management app Pariti, to Tandem Bank in 2018. Having gone through the exit process himself, he’s applied the lessons learned to his new venture.

From his viewpoint, founders often face critical, life-altering decisions while dealing with personal financial pressures. During a Zoom conversation earlier this month, I asked him to elaborate on what this means in practical terms.

TECH

Trump's Tech-Friendly Moves Pay Off with Backing from Crypto and Big Tech

The millions invested by US tech companies to gain favor with Donald Trump appeared to pay off this week, as the new administration rolled out a series of directives that eased regulations and dismissed lawsuits previously aimed at holding the industry accountable. Crypto, AI, and social media firms, many of which contributed to Trump’s campaign, are all expected to benefit.

At the heart of these actions is Elon Musk, the world’s richest man. Over the past week, federal agencies under the president’s authority dropped legal battles against Musk's rocket company and the country’s largest cryptocurrency exchange. Additionally, the White House introduced a “deregulatory initiative” designed to ease tech-sector regulations, including measures benefiting Musk’s Dogecoin.

CRYPTO

Mark Cuban Responds to Bybit’s $1.4B Hack: 'No Implications' for Crypto, but One Concern

Shark Tank investor Mark Cuban downplayed concerns about the $1.4 billion Bybit hack, stating it has "no implications" for the broader crypto market.

However, Cuban raised one important issue: "The only question is whether they have insurance," he told TheStreet Crypto.

Crypto insurance covers exchanges, businesses, and investors against financial losses from hacks, fraud, or operational failures. Unlike traditional finance, options for coverage are limited, with many exchanges opting to self-insure or rely on emergency funds. Major policies typically cover theft, custodial losses, and cyberattacks, but not all platforms are insured.

The massive hack, confirmed by Bybit CEO Ben Zhou on February 21, is the largest in crypto history, surpassing the $625 million Ronin Network breach in 2022. There are suspicions that North Korean hackers may be involved.

A hacker gained access to Bybit’s Ethereum cold wallet, manipulating a transaction that led to the theft of nearly $1.4 billion in ETH and stETH.

"The hacker took control of the specific ETH cold wallet we signed and transferred all ETH in the cold wallet to this unidentified address," Zhou explained in a post on X.

Blockchain analytics firms ZachXBT and Arkham Intelligence confirmed the large outflows, with Arkham reporting that the stolen funds are being moved and sold across various addresses.