Odaily Planet Daily News Pantera Capital released a reflection and lesson summary on the first anniversary of FTX's collapse on the X platform: After the news of FTX and Alameda's poor financial situation, Pantera Capital formed an emergency team to assess the impact on the portfolio, with the goals of: 1) identifying all potential risks; 2) providing assistance to high-risk teams. It is worth noting that Pantera Capital has been in this industry for ten years, and this work is not new. Pantera Capital has launched emergency response teams to deal with similar pressures, such as the 2018 crypto winter, the bankruptcy of Three Arrows Capital, the collapse of LUNA, and the recent banking crisis. After identifying all potential risks (custody, counterparties, investments, etc.), Pantera Capital worked with the affected teams to mitigate further risks and develop a plan to move forward. Fortunately, less than 5% of Pantera Capital's portfolio teams were significantly affected, in part because Pantera regularly emphasizes active risk management practices to the founders of various projects. Here are some ideas for team building in the crypto field: 1. Establish a process within the organization to minimize the time any asset stays on any exchange or third party. 2. Avoid single point control of any asset transfer by implementing a multi-signature process for all asset transfers. 3. Avoid any unnecessary principal risk to the company’s financial assets by keeping them as liquid and in cash as possible. Take steps to ensure bank accounts meet FDIC insurance limits. 4. Move assets from mixed omnibus wallets (such as exchanges or any medium where project funds are mixed with other funds) to on-chain segregated wallets (such as custody, self-custody, or anywhere where funds are isolated from other third-party funds).