Slow Burn

Manifold Finance and founder Sam Bacha have repeatedly failed to deliver, with the FOLD token falling 98% from its $103 peak to 64 cents by November 2024. Manifold raised $2.5 million in 2021 from P2P.org and Marshland Capital, but its SushiSwap tool was shelved over "bugs," and its mevETH token fell 90% after peaking at a $37.7 million market cap. Cobie told DL News he invested in FOLD in 2021 and now holds tokens worth zero, and Bacha's earlier venture, Block Array, has worthless tokens.