@zxocw@RaymondDurk I see... feels like a rookie mistake for VCs to value at what it is at the last round w.r.t asset value, since everyone in this space knows mkt pegged value of low liquidity shitcoins is nonsense, even if its hard to tell if Ftx is a skem. But then again, hindsight is 20/20
@zxocw@RaymondDurk so for later rounds of FTX raise, the VCs involves alr have insights into FTX balance sheet and that the value is largely inflated by those "sam" tokens?
@adamscochran the claw back clause can be slightly worrying... but technically prior to 7th Nov when he tweeted everything is fine and assets are safu, theres no case to claw