It really amazes me what gets funded sometimes.

I could see the scam being something like this… $200M is the “sticker” funding, with the actual release of funds being on a slower timeline with milestones.

But the VCs get their cash back and then some thru the token sale before they put in too much. Then they turn off the cash spigot when it doesn’t go well.

Basically how many of these crypto scams go- VCs found a way to take minimal risk thru token issuances. Many of them are also conveniently in the market making game. It’s all a fugazi.