Fundraising in crypto
• Trend of enabling shitty founders that raise based on hype/fomo (L1s, crypto gaming, nft projects, launchpads) but 4 years passed without any product
• Paying themselves an absurd salary from the fundraise and slow rugging the project
• Multiple fundraising rounds, with some investors only geting a SAFT yet no intention of TGE-ing
• Ghosting investors/ not providing quarterly updates (bare minimum) after taking their money
When proper projects with good business models and ethical, professional founders come along, investors hesitate to invest because of PTSD
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