AFAIK Almost all crypto companies operate in the dark. There's little due diligence to be had when none is (legally) required. I recall coming across a clip of

AFAIK Almost all crypto companies operate in the dark. There's little due diligence to be had when none is (legally) required. I recall coming across a clip of Chamath Palihapitiya, a prominent VC saying he once had the opportunity to invest in one of SBF's companies and demanding he (SBF) create some corporate governance in order for him to invest and SBF blew him off. There were clearly some concessions made by thirsty VC firms to pass on the due diligence in the promise of 'guaranteed' returns. Does any of this information matter to clients? Ofc not when they continue to get their annual dividends from the VC firms. Crypto is just one piece in the basket of investments for them. The smart VCs hopefully didn't invest too much of their allocation.