SALT (SALT)

Rob’s take misses the point. Yes, they did a fair launch and airdropped tokens to people without claiming they represented ownership in Venice, but they also market sold over $10m of tokens at launch, which they used to fund the development of the company.

If you used the token to bootstrap the project, then when it starts to scale you pivot to an equity business where token holders get (nearly) nothing, holders have a right to be pissed.

Furthermore, this isn’t the first time he’s launched a token, cleared eight figures, then abandoned it. Check the price of SALT, the ICO he did in 2017. Or the price of FOX (ShapeShift) and MOR (Morpheus AI), for that matter.

Disappointed to see Dragonfly backing this scammer and actions that reaffirm why no one trusts tokens. I say that as someone who is commonly quoted saying Dragonfly are the best VCs in the industry.

Some useful links:

https://t.co/qHJNpOLBye

https://t.co/kGJvcLXz6H

https://t.co/IKMQwgGY6I

https://t.co/DJNAfbJeqn

John Darsie, CEO at SALT, tells the incredible origin story of the @SALTConference, and why @Scaramucci built it. https://t.co/ab6n1ZXIDx