DeFiance founder: VC due diligence levels are seriously declining, a fraud project completed financing with a valuation of $1 billion

Odaily News Arthur Cheong, founder and CEO of DeFiance Capital, posted on the X platform that the level of VC due diligence has declined significantly in the past few months, and a project with a lot of suspicious data and a suspicious founder history has completed financing at a valuation of $1 billion. Unless this situation changes, we will see more speculators entering this industry.