[tempsy]

i think VC involvement has made this space far more dangerous now. don’t think Celsius could’ve gotten where they are now without willing VCs pouring hundreds of millions into building the company up despite how risky the entire business model is/was. now this is going to become an existential threat to the whole ecosystem.

[ABeeSea]

It also gives obvious nonsense an air of validity. VCs giving several millions to something like StepN is a drop in the bucket for the VC portfolio. But this money makes it seem to an average person that maybe the VCs see something the don’t. So they are now willing to buy in.

I also wonder how much VCs are insider trading their own project’s coins and don’t care about the actual company because they made their profit on the rug pull.