bullish

when

Orlando Bravo, CEO of private equity firm Thoma Bravo, has vowed never to invest in crypto again after losing $130 million in the FTX collapse. In 2021, Bravo led a $900 million investment in FTX, a crypto exchange once valued at $18 billion. However, FTX’s shocking implosion in 2022 caused massive losses, including roughly $8 billion, leaving investors reeling. 
In a recent <a href="https://www.cnbc.com/2024/09/05/thoma-bravo-founder-will-never-touch-crypto-again-after-ftx-disaster.html" target="_blank" rel="noreferrer noopener nofollow">CNBC interview</a>, Bravo explained his firm’s decision to steer clear of crypto assets in the future, saying, “Once you make a mistake and get burned, our philosophy is to never touch it again.” Thoma Bravo, which oversees $160 billion in assets, has shifted its focus elsewhere, investing in tech companies like Proofpoint and Anaplan. 
Despite his crypto exit, Bravo remains bullish on blockchain technology, calling it “a powerful way of doing many things” with growing use cases across industries. Still, the fallout from FTX has increased calls for tighter regulations, as the market continues to recover. 
Bravo’s decision reflects the broader <a href="https://www.cryptotimes.io/2022/11/17/ftx-collapse-mean-for-crypto-industry-future/" target="_blank" rel="noreferrer noopener">impact of the FTX collapse</a>, with many investors rethinking their crypto strategies. However, his confidence in blockchain shows that while individual crypto assets may carry risks, the technology behind them still has potential. 
In a world of high-stakes investments, Bravo’s experience is a lesson in knowing when to walk away, even when the promise of future profits looms. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/08/22/ftx-reorganization-plan-receives-95-creditor-approval/" target="_blank" rel="noreferrer noopener">FTX Reorganization Plan Receives 95% Creditor Approval</a> 
</blockquote>

Thoma Bravo Vows Never to Invest in Crypto After FTX Loss

The Crypto Times

Other articles published on Sep 6, 2024

Bitfarms Plans to Expand Energy Portfolio to 950MW by 2025, with Nearly 50% in the U.S.

Telegram Updates FAQ Section and Alters Privacy Statement

Telegram’s Pavel Durov Vows to Protect the Platform’s 950M Users With New Safety Measures

Best Upcoming Cryptos in 2024: Solana, Arbitrum, Celestia, and Kaspa Leading Blockchain Innovations

REFUND Project Launches New Website

Bitcoin Continues to Fall Sharply: Below $53,000 Also Seen! So What Causes the Decline?

Join our free newsletter for daily crypto updates!