Equity

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.Alex and Grace are back to cover the biggest, boldest and baddest technology news. This week we are not recording on a Tuesday as it's a regular week. Though we would add that Equity will be live on Thursday, when we record our Friday episode. So if you wanted to come hang, make sure that you are following the show on Twitter.Right, so what did we get into this morning?Stocks are generally up, major cryptos are not doing too much this morning, and a Coinbase downgrade caught our eye.Backstage Capital is laying off staff as it focuses on only investing into existing portfolio companies. With less capital than before going to Black founders, seeing a fund that focused on investing into underrepresented founders struggle is a bummer.The Strapi startup round was a fun one to look at, fusing open-source tech and CMSs, a tool that we use here at TechCrunch rather often.And then the