The picture is bleak --- median returns came in at --75%. In other words, in 2025 the average investor lost more than two-thirds of their capital. One notable detail: the median drawdown among high FDV projects was even deeper than the market average (--83%). Among the projects
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The picture is bleak --- median returns came in at --75%. In other words, in 2025 the average investor lost more than two-thirds of their capital. One notable detail: the median drawdown among high FDV projects was even deeper than the market average (--83%). Among the projects