Treasury management is not straight forward though. A lot of projects raised in ETH, and decided to keep the ETH rather than locking in the dollar value they ne

Treasury management is not straight forward though. A lot of projects raised in ETH, and decided to keep the ETH rather than locking in the dollar value they need to pay expenses in. ETH mooned and they are in a better financial position. In other cases projects raised in stablecoin, but needed ETH to pay gas, which spiked at the same time ETH mooned, resulting in millions of dollars expenses that needed coverage leaving them in a much worse position. Not that it seems to apply to this case in particular. It looks like this guy just trousered as much as thought he could get away with.