So I think it’s a little more complex. Let’s look at one of AZ16’s blockchains projects. Ava Labs is the company, Avalanche is the blockchain, Avax is the toke

So I think it’s a little more complex. Let’s look at one of AZ16’s blockchains projects. Ava Labs is the company, Avalanche is the blockchain, Avax is the token. https://www.crunchbase.com/organization/ava-labs/ https://www.crunchbase.com/organization/ava-labs/ They launched a series A in 2019. The Series A was $6million and was joined by Andreessen Horowitz (a16z), Initialized Capital and Polychain Capital, in addition to angel investments from Balaji Srinivasan and Naval Ravikant. Two private token sale in June and July 2020 for $12m and $42m. Are the VC’s and insiders getting a cut? Then finally a public ICO in sept 2020 to raise $240 million. They also had a funding round of $350million in April 22. Ample time for early VC’s to make money. It’s valuation is $5billion. That’s the same as Coinbase which is a legit org with billions in revenue.