Thoma Bravo Founder Orlando Bravo Exits Crypto After FTX Debacle

Thoma Bravo Founder Orlando Bravo Exits Crypto After FTX Debacle

Orlando Bravo, the founder of Thoma Bravo, a private equity firm with $170 billion in assets, recently announced that he is stepping away from the cryptocurrency market after the collapse of his investment in FTX. This development underscores the growing skepticism among traditional investors toward the digital asset class. In an interview with CNBC, Bravo revealed that Thoma Bravo had invested $150 million in FTX last year. However, following the company's spectacular downfall, he declared, "I learned my lesson on that one. My philosophy is when you get hurt on the way down, you don't go back, even if it ends up going way up." Despite his negative experience with cryptocurrencies, Bravo still believes in the potential of blockchain technology. "The underlying blockchain technology is still very interesting and very promising. I am personally a believer in the blockchain," he stated. However, he emphasized that he would avoid investing in digital coins and other related assets. Bravo's decision highlights the growing wariness among mainstream investors regarding cryptocurrencies. The FTX collapse has raised significant concerns about the industry's stability and regulatory environment, leading many institutional investors to re-evaluate their positions.