Anvil CEO says he lost everything after 5 years of betting on Cardano

Zack Soesbee, CEO of Cardano ecosystem development agency Anvil, said on X that he has lost virtually everything after investing his time, assets, and career into the Cardano ecosystem and ADA for the past five years. He stated that he and his co-founders operated their business for three years without salaries, minimizing costs to contribute to the ecosystem's growth. Meanwhile, he claimed, others were drawing comfortable salaries and misusing community and treasury funds. As a result, Soesbee noted, the price of ADA has fallen to the 10-cent range, and his company is unable to secure contracts within the Cardano ecosystem to stay afloat. He added that community business proposals they had prepared for months have not been approved. To save his house, Soesbee said he sold his ADA holdings at $0.16, a stake he had held for five years. "I now feel like I was just one of the flock and don't know why I should continue developing in the Cardano ecosystem," he said, adding, "I've lost everything except my wife, and now even she is growing displeased with me."