The crypto market can play cruel jokes, even to some massive investment companies or celebrities.
From SBF rescuing insolvent crypto companies left and right just months earlier to his empire in a near-doom state needing a bailout, there appears no light at the end of the tunnel as the current crypto market depression intensifies.
Sequoia invested in a $420 million round in the company at a $25 billion valuation in October 2021. Additionally, some of the heavy hitters in the capital market, namely Temasek, Paradigm, NEA, SoftBank, Lightspeed Venture Partners, Tiger Global, Insight Partners, the Ontario Teachers’ Pension Plan Board, and others, poured in capital worth $400 million at $32 billion in January 2022.
also mentioned that another of FTX’s investors said they were “fielding texts” from limited partners throughout the day and added that these institutional investors fear that their stakes might wipe out completely.Celebrity investors also made their way to FTX. Basketball star Stephen Curry, for one,with the platform in September 2021. Interestingly, this was his first investment in the crypto industry while his – Eat.Learn.Play.
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