Due diligence in for last FTX & Prime Trust funding rounds:
✅️ Can you make me $?
But they should have asked:
❌️ have you lost access to keys
❌️ are you trading w/ user funds
❌️ are you buying low cap shitcoins w/ user funds
Discussion
Think we know what it was really about, shady deals to rugpull industry for new regs
You just want to bang your head into a wall. I despair of the entire VC diligence process. We have good company after company going to the wall while at the same time these negligent funds throw money at charismatic founders without doing basic due diligence on their terrible companies.
That’s standard. Alot of idiots desperately chasing profit