Crucial Details
- Sequoia wrote down the value of its stake in FTX to zero very last week just after rival trade Binance’s withdrawal of an give to rescue the business remaining it going through individual bankruptcy.
- Doug Leone, Sequoia’s international taking care of companion, reported FTX’s implosion may have an affect on its investing rules in the around term: “For the future a few to 6 months, we’re likely to desire a tiny less.”
- Leone also claimed Sequoia experienced finished “thorough because of diligence” on FTX.
- In a given that-deleted short article on Sequoia’s web page praising FTX founder Sam Bankman-Fried, it is exposed he was enjoying League of Legends even though on a Zoom simply call with Sequoia’s associates.
