Cardano founder says Ardana meltdown might have cost him 500K CardanoADA CardanoCommunity BuildingonCardano
The Cardano founder, unhappy with the situation, said,"Looks like I might have just lost 500k on it." Hoskinson said he was an investor through cfund, Cardano's early-stage investment fund. He also said he was waiting for a readout from the Ardana team.John O'Connor, Director of African Operations, seems to be in the same boat as the Cardano creator, as he expressed surprise and disappointment on hearing the news. He said he invested in the project, and likewise in cfund.
He believes that Ardana may have followed the Three Arrows collapse as its"largest ticket," and a token dump by investors after its financial situation came to light, might have been its albatross.In July, crypto hedge fund Three Arrows filed for bankruptcy after it failed to meet margin calls from its lenders. The collapse of Three Arrows triggered a downward spiral that wrapped around many crypto investors.
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