Trending Topic: Sequoia Capital Apologizes To Investors After FTX Loss


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In a rare move, American venture capital firm Sequoia Capital reportedly apologized to its fund investors for the $150 million it had lost on the now-bankrupt crypto exchange FTX.

It seems that on Tuesday (22 November 2022) Silicon Valley venture capital firm Sequoia Capital had a conference call with investors in its fund(s) that had exposure to FTX.com and FTX US. On 8 November 2022, Samuel Bankman-Fried (aka “SBF”), Co-Founder and (now) former CEO of crypto exchange FTX.

Sequoia is among the companies that lost a significant amount of investments made after FTX collapse.

On Tuesday, November 22, in a letter to staff, FTX founder Sam Bankman-Fried outlined a $51 billion crash in the company's collateral which has dropped to $9 billion from $60 billion. In his letter obtained by Bloomberg, SBF wrote that a combination of sell-offs in cryptocurrencies, a credit squeeze, and a “run on the bank” The post FTX Reports $51 Billion Crash In Collateral, Sequoia Apologises Investors appeared first on CoinGape.

Sequoia, one of the most prominent VC firms in the world, has apologized to its backers for the investment they made in FTX.

Sequoia Capital partners apologized to investors for the $150 million it lost on the FTX crypto exchange, the Wall Street journal reported. The post Sequoia Capital apologizes to investors after $150 million FTX loss: WSJ appeared first on The Block.

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