Venture Capital Firm Dumps Braintrust Tokens Sighting Depreciation

• The prolonged crypto winter has prompted Braintrust to dump the tokens escrowed for investments.
• Tiger Global has sold hundreds of thousands of BTRST tokens issued by Braintrust amid the bear market.
• The crypto winter underscored the issues surrounding venture capital firms in the crypto industry.

The ongoing crypto winter has prompted investment giant Tiger Global to reconsider its involvement with the crypto space. Since the beginning of 2023, Tiger has dumped hundreds of thousands of crypto tokens in a bid to recoup its investment and conserve cash. One of its most high-profile investments, Braintrust, has costed the venture capital firm millions of dollars.

According to a report by Fortune, Braintrust, a blockchain-powered recruitment platform, was one among Tiger Global’s investments into private tech firms, in 2021. In return for the investment, the venture capital firm received millions of Braintrust tokens (BTRST) instead of getting a stake in the crypto startup.

The BTRST token served as Brainstrust’s currency and facilitated rewards to the platform’s users. Apart from issuing the tokens to Tiger, Braintrust also sold a significant sum to th…

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