ChainCatcher news, Orlando Bravo, the head of private equity firm Thoma Bravo managing approximately $160 billion in assets, stated in an interview with CNBC that the company will permanently exit the cryptocurrency market. This decision stems from its failed investment in FTX, where Thoma Bravo participated in a $900 million investment in 2021. After the collapse of FTX, investors like Thoma Bravo faced significant losses and became embroiled in a lawsuit accusing them of making misleading statements while promoting FTX.

ChainCatcher news, according to Bloomberg, a class action lawsuit filed on behalf of investors accuses venture capital and private equity firms, including Sequoia Capital, Thoma Bravo, and Paradigm, of participating in a promotional marketing campaign in 2021 to promote their own hundreds of millions of dollars investment in the FTX entity.Investors claim this added a sense of "legitimacy" to FTX, which ultimately filed for bankruptcy in November. Investors accuse the venture capital firms of violating state and federal laws, including false statements, false advertising, and civil conspiracy. (source link)