Lol. FTX’s investors were a whose who of “seasoned venture funds and experienced crypto investors”.
Sequoia, Third Point Iconiq etc. Coinbase Ventures gave them money. Blackrock was an investor.
If you want to see FTX as an indictment of the entire venture industry I think there is an argument to be had there. But picking on OTP is just a lazy rhetorical device. They made a similar investment to other funds in the industry they are in, that was a reasonable size of their portfolio in an investment style known to be risky.
Sequoia, Third Point Iconiq etc. Coinbase Ventures gave them money. Blackrock was an investor.
If you want to see FTX as an indictment of the entire venture industry I think there is an argument to be had there. But picking on OTP is just a lazy rhetorical device. They made a similar investment to other funds in the industry they are in, that was a reasonable size of their portfolio in an investment style known to be risky.