In early 2021, one of the largest crypto exchanges at the time (FTX) raised a $1 billion round of Series B funding, led by top venture capital (VC) firms like Sequoia, SoftBank, and Tiger Global.
In November 2022, news became public that FTX founder Bankman-Fried had secretly shifted $10 billion of FTX customer deposits to sister hedge fund Alameda. FTX collapsed in a matter of days. SBF was sentenced to 25 years in federal prison.
Here’s a look back at FTX’s last investor pitch deck, and where everything went wrong.