“He poured money – other people’s money – into investments to make himself even richer,” the prosecutor said in opening arguments.

“While it’s still winter, we have been swimming … getting our hands dirty for the long run,” said DBS’ head of digital assets, Evy Theunis.

The lead investor in the fund was B1, which committed $50 million, alongside Richard Li’s Pacific Century Group, Tyler and Cameron Winklevoss’ firm and Animoca Brands founder Yat Siu.