CEO of Ragnarok admits to treasury mismanagement

In this case, the backers wanted you to build a metaverse RPG. If they had wanted to invest in ETH, they would’ve done so themselves. So your job isn’t to make stupid bets on investments way outside your company’s lane, it’s to build the product you sold and fundraised on.

I’ve seen the same thing at nonprofits I’ve worked with. Their management teams start making riskier and riskier investments because it’s seen as “free” money in a sense because it’s all happening internal to the org and they don’t need outside fundraising. So you’ll have an org focused on public health or whatnot investing their cash reserves in foreign commercial credit.. then when that shit goes south and they need to mark their reserves down by hundreds of thousands of dollars, every other stakeholder is impacted.