VCs buys anything they think they can unload on PE, funds, or even retail later down the line. It's not specific to crypto. Theranos was a similar fraud, and s

VCs buys anything they think they can unload on PE, funds, or even retail later down the line. It's not specific to crypto. Theranos was a similar fraud, and so was WeWork. They can make a public spiel about how they were deceived as long as they want, but to anyone following them at the time it was obvious they were going in with their eyes open. Whether the product works or not is simply not their top priority when making an investment. edit: I'd like to point out to the people who clearly disagree with the above that the dude running this scheme from Bahamas was openly taking drugs and playing videogames in meetings with investors. It's even mentioned in the VC material. Yet they did shower him with money. Please do tell what kind of due diligence could possibly miss the warning flags that maybe this company wasn't completely honest?