Jesse Powell, Kraken’s founder, has expressed anger at the venture capital (VC) firms who invested in Sam Bankman-Fried’s (SBF) FTX, saying their incompetence enabled “obvious fraud.” Powell said the VCs failed to perform due diligence to uncover possible discrepancies at the beleaguered firm. Instead, they allowed themselves to be bamboozled by the personality SBF touted. […]
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Kraken founder accuses ‘incompetent VCs’ of enabling ‘obvious fraud’ at FTX