Silicon Valley Poured Money Into FTX, With Few Strings Attached

A marquee roster of investors from Silicon Valley and Wall Street swarmed FTX. They invested nearly $2 billion with few strings attached and no oversight on the cryptocurrency exchange’s board, promoting it as a safe bet. Now the backers are nursing a high-profile black eye as the three-year-old company—valued at $32 billion at its peak—teeters. …

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