**Title: Sequoia Capital’s Bold Endorsement of FTX Despite Bankruptcy | QED Crypto News**
Hey there! Grace here from QED Crypto News, bringing you the latest updates in the world of cryptocurrency. Today, we dive into Sequoia Capital’s recent bold endorsement of FTX, despite the cryptocurrency exchange’s bankruptcy. Known for its successful investments in tech companies, Sequoia Capital’s venture into FTX didn’t yield the same success. However, their staunch support speaks volumes about their commitment to standing by their investments.
According to Axios, Sequoia Capital has a $150 million exposure to both FTX and FTX U.S. in its third Global Growth Fund. While this represents less than three percent of the fund’s total capital commitment, Alfred Lin, a partner at Sequoia Capital, defends their decision to invest in FTX. In a recent statement, Lin emphatically states that there was no mistake in their choice and that they would do it again in a heartbeat.
Interestingly, Sequoia Capital even marked down their investment value in FTX to zero dollars. Despite this setback, the firm maintains another $63.5 million investment through a crossover fund called SDGE. In a conference call, Sequoia Capital’s top partners apologized to their investors for backing FTX, but defended their due diligence process, taking responsibility for the losses incurred.
The unwavering support from Sequoia Capital amidst FTX’s downfall showcases their commitment to their investments. Despite the exchange’s bankruptcy and loss of client money, the firm believes they made an informed decision when investing in FTX. As always, this situation serves as a reminder for investors to exercise caution and conduct thorough research before diving into any investments, especially in the volatile world of cryptocurrencies.
Stay up-to-date with the latest cryptocurrency news by liking this video and subscribing to QED Crypto News. Remember, always do your own research and stay informed before making any investment decisions. Until next time, this has been Grace from QED Crypto News signing off.
*Keywords/Tags: News, Sequoia Capital, FTX, bankruptcy, cryptocurrency, investments, venture capital, crypto news*
*Source: [Coinotag](https://en.coinotag.com/sequoia-capital-partners-bold-endorsement-of-ftx-wed-invest-again-in-a-heartbeat/)*
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News Source:https://en.coinotag.com/sequoia-capital-partners-bold-endorsement-of-ftx-wed-invest-again-in-a-heartbeat/
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