According to "CNBC", Orlando Bravo, the founder of the American private equity investment company Thoma Bravo, said that he learned a lot from the failed investment in the cryptocurrency exchange FTX. "Once you make a mistake, once you suffer a loss on something, , our philosophy and my philosophy is never to touch it again.”

Orlando Bravo called FTX "the most cutting-edge, advanced cryptocurrency exchange in the world" more than three years ago, when his firm helped lead a $900 million investment in the exchange that valued it at $18 billion. Thoma Bravo’s investment in FTX was reported to be $130 million at the time.

However, FTX filed for bankruptcy at the end of 2022, and the exchange's top officials were accused of misappropriating more than $8 billion in customer funds, and its founder Sam Bankman-Fried (SBF) was involved in large-scale fraud and conspiracy. In March, a U.S. judge sentenced SBF to 25 years in prison.

Bravo said in an interview with CNBC last week that he and his company Thoma Bravo would permanently exit the cryptocurrency market following that disaster.

“Once you make a mistake, once you lose money on something, our philosophy and my philosophy is never touch it again,” Bravo said. “Even if it turns out you missed a big move.”

Thoma Bravo was founded in 2008 and currently manages approximately $160 billion in assets. The company has emerged in the technology sector in recent years, orchestrating a number of multi-billion dollar acquisitions, including cybersecurity software provider Proofpoint, property management software company RealPage, financial and supply chain software developer Anaplan and expense management software company Coupa .

Despite losing its investment in FTX, Bravo said in an interview that the blockchain technology behind cryptocurrencies still has prospects, but that Bravo will avoid contact with either Bitcoin itself or companies in the field.

"Personally, I'm a fan of blockchain. I think it's a powerful way to do a lot of things, applicable to a lot of application scenarios, and I've always believed that," Bravo said. "From an investment perspective. "When you make a mistake, you probably let it go and move on."

Relevant reports: "SEC reserves the right to oppose FTX's restructuring plan; bankruptcy proceedings fees have accumulated over 800 million mg" "FTX founder SBF traded rice in prison, saying arbitrage opportunities are better, but still believes he is not guilty" "Temasek is "FTX Investment case "Catch war criminals, relevant teams and senior managers will be punished with salary reductions"

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