Security and risk checks were “poor” at the company, but the implosion of the trading firm came as a surprise to insiders, the former employee said.
“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.
Brett Harrison’s new firm, Architect, aims to be an one-stop platform for institutional-grade crypto trading.
Crypto companies and DeFi projects just closed their worst quarter since 2020, with the sector securing just over $1 billion in venture capital as the chill of crypto winter drags on.