Same for a16z, Softbank and all the others that jumped on the crypto bandwagon without doing their jobs as board members and during the run-up to the deal and after investing.
Ironically, the VCs will position themselves as the victims.
SoftBank was SoftBank before its unprofitable/weird investments in businesses like WeWork and Boston Dynamics.
A lot of people are still reasonably very excited about Bitcoin and crypto.
A lot of those people will lose their savings and/or their shirts because they are not made aware of the fact that those companies are on the sell side. You can do your utmost best to try to separate that from 'Bitcoin and crypto' but to your average victim that doesn't really mean much.
I've used crypto, I think I understand the main limitations, have mined a single bitcoin back in the day when this was still possible on a GPU, received donations and made donations using bitcoin, in the end I see it is of limited usefulness, mostly related to when people are unbankable for a variety of reasons, but I do not buy the hype.