On September 9th, Orlando Bravo, the head of private equity firm Thoma Bravo, which manages about $160 billion in assets, said in an interview with CNBC that the company will permanently exit the crypto market. The decision stems from its failed investment in FTX, which Thoma Bravo participated in in a $900 million investment in FTX in 2021. After the FTX collapse, investors such as Thoma Bravo faced huge losses and were embroiled in a lawsuit accusing it of making misleading statements when promoting FTX.