The valuations of VC-backed tech companies depend more on the supply of VC capital than on changes in the economics of the companies. The downturn in VC capital has caused a large drop in tech company valuations; as much as 80% for some https://www.ft.com/content/6395df7e-1bab-4ea1-a7ea-afaa71354fa0

FTX MARKET MANIPULATION

One of the clearest cases of the need to regulate cryptocurrencies. The manipulation of markets described in the article is reminiscent of the stock market before regulations were put in place to prohibit these practices.

https://www.nytimes.com/2023/02/15/technology/ftx-modulo-capital.html?login=smartlock&auth=login-smartlock

#cryptocurrencies #digitigalassets #FTX #ezrazask #investments #financialfraud #marketmanipution

FTX: Failure of Due Diligence

 https://www.ft.com/content/6e912f25-f1b7-4b19-b370-007fbc867246 

This close-up look at the breakup of FTX shows so many red flags that we have to ask how Sam Bankman-Fried was able to hoodwink the investment world for so long, especially since many of the red flags were also present in the Madoff Ponzi scheme.  It does seem like investors have to re-learn the lessons of previous fiascos every generation.