Got an email from the US Department of Justice yesterday: a founder we invested in many years ago has been arrested and is getting charged for Securities Fraud. He promised the world, raised 8 figures, and eventually delivered the most effortless excuse for a platform, essentially just a frontend, plus a worthless token with no liquidity. He thought he was being clever by technically delivering his promises on paper, even though it was painfully obvious it was a rug. Something that was basically confirmed by team members who left very soon after the raise over how he operated the company and how he spent the money. We only invested a small amount, and from experience it didn't feel worth going after. Nothing ever seems to come out of legal cases like this, so we chalked it up to poor founder diligence on our end and moved on. So this genuinely came as a surprise. One of the bigger investors likely went after him, and it seems they did so very successfully. I'm not posting this to spread fear among founders planning to launch a token. If you have even a shred of integrity and honest intentions, nothing like this would ever happen to you. But we all know how many founders over the last few years were simply extracting from the industry, convinced they could game the system with worthless tokens to fund their lambo-yacht-jetset lifestyle. And for a long time, this has been one of the main problems of crypto, and also the reason why we are getting so much negative press in the real world. If that was you, or you were planning on it, then yeah, you should be sweating. The days of founders getting away with this are over, and that is massively positive for the industry. Go scam somewhere else. The mills of justice grind slowly, but they grind.