Australian Crypto Entrepreneur Lost $267 Million After Deal Collapsed Amid Crypto Market Plunges
An Australian cryptocurrency investor has lost US$267 million after failing to secure funding for his Silicon Valley-based blockchain start-up as the digital currency market remains in a knockout.
Michael Dunworth, the co-founder of Wyre, said he was dealt a heavy blow by the news last week that US online checkout company Bolt Financial Inc scrapped the $1.5 billion deal with his company.
“I suppose money isn’t really in the bank until it’s in the bank,” Dunworth told the Australian Financial Review on Sep. 20.
“I’m trying to be as realistic as possible. Otherwise, you’re only going to break your own heart. But there is the thought that I could have worked this whole 10 years for zero dollars.”…
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