Polygon CEO Shares Touching Story of Almost Losing It All Before His Wedding

In the crypto industry, some people had it easy in their early days, while some fought through thick and thin to survive and keep their vision alive. One example of a figure who experienced the latter is Sandeep Nailwal, co-founder of the Polygon blockchain and CEO of the Polygon Foundation.

According to a tweet explaining his ordeal, Nailwal revealed that he almost lost every funding received for Polygon in the project’s early days. He called the season “the most stressful time” of his life, as his wedding was around the corner, the bear market was in full swing, and Polygon was in desperate need of funding.

The Investment That Never Went Through

Nailwal had scheduled his wedding for November 19, 2018; however, he had to take a trip to Shanghai six days before to pitch at an event. One of the industry’s OGs, Tamar, who ran a strong Chinese crypto community at the time, had given Nailwal a chance to pitch at her event.

The Polygon co-founder said he decided to skip smaller rituals leading up to his Indian wedding to take the pitch. At the time, the Polygon team had barely raised $265,000 – the bear market was at its worst, and investors were reluctant to invest in the project.

Following a successful pitch, one investor committed about $600,000 in bitcoin (BTC) – the asset was worth $6,000 at the time. Nailwal said he went home happy and in high spirits for his wedding. However, things eventually took a turn for the worse.

The Worst of the 2018 Bear Cycle

By November 14, BTC began to decline from $6,000 and eventually fell to $3,000 over the following days. The investor from Shanghai called off the 100 BTC they had pledged, and Polygon’s treasury declined by half. Nailwal recalled making a mistake of leaving the project’s existing fund of $100,000, which they had received in bitcoins, in BTC because he did not think the asset could plummet any further.

BTC had already tumbled from $20,000 to $6,000, and it was his first crypto cycle, so he had no clue how bad the market could get. While others celebrated, he was worried that the project had only three months of runway left.

Nailwal said he had refrained from selling his crypto holdings because he was a “big believer” in the industry. He eventually borrowed $3,000 from a friend to sponsor their honeymoon. Things eventually got better, and Polygon has thrived over the years.

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