FTX's Downfall
The unraveling of FTX reveals significant mismanagement and hidden risks, as highlighted by Sequoia's unprecedented decision to write down its investment to zero. With FTX's valuation plummeting from $32 billion to potential bankruptcy, investors are hesitant to provide further support, signaling a cautious future for venture capital in the crypto space. The stark contrast between past optimism and current realities underscores the fragility of the industry.In this clip
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It’s not a rug pull if it’s an accident
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