PANews reported on December 24 that according to CoinDesk, David Pakman, managing partner and head of venture capital at crypto venture capital firm CoinFund, revealed in an interview that CoinFund was an early investor in FTX and had a small stake, which has now been written down to zero. The company does not hold any FTT tokens. The bankruptcy of FTX was not a "technical failure" but a "human problem", and the collapse of centralized exchanges has also drawn more attention to decentralized finance (DeFi). Bear markets can benefit venture capital firms because turbulent markets lead to lower valuations and are more attractive entry points for potential investors. Pakman also said that companies should focus on risk management and use leverage conservatively, but startups should try to avoid leverage.