FTX Ventures Head Amy Wu has resigned, The Information reported, citing the executive.
Wu joined in January to launch what was expected to have been a $2 billion fund. She was an early advocate of web3 startups, invested in Ethereum startup Offchain Labs and blockchain gaming company Faraway during her previous role as a partner at Lightspeed Venture Partners, The Information said. FTX Ventures and sister firm Alameda Research invested in more than 250 crypto industry startups, according to data collected by The Block Research.
News of the resignation came after more than 100 corporate entities affiliated with the FTX crypto exchange filed for Chapter 11 bankruptcy protection.
Speaking at Breakpoint in Lisbon last week, Wu said that VC deals were rushed and went forward without proper due diligence during the last crypto bull market.
Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.
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