[IMTDb]

> Definitely looks pretty bad - but on the other hand, an accelerator not making any bets in crypto is not a sensible accelerator.

That's why we have the concept of "due diligence". YC is absolutely allowed to make bets in the crypto world; but they have a brand name and a reputation of serious investors. I know that when I see the YC logo on a new product I discover, it serves as a signal. And having a fraud company being allowed to use the YC brand on their website, because YC wanted to work with them and gave them money to allow them to grow (meaning: "cheat on more people") is definitely a stain on their track record

[unicornmama]

Social-proof does not replace due diligence. The Theranos investors whose money followed big name investors paid dearly for this lesson.