Firm once valued at $25bn in 2021 suffered bank run-style crisis as investors rushed to withdraw money
FTX, once the second-largest cryptocurrency exchange in the world, is now worthless, according to one of the company’s early investors.
In a note to partners, venture capital firm Sequoia announced it had written down its investment in FTX, worth $150m (£130m), to nothing.
Continue reading…
Firm once valued at $25bn in 2021 suffered bank run-style crisis as investors rushed to withdraw money
FTX, once the second-largest cryptocurrency exchange in the world, is now worthless, according to one of the company’s early investors.
In a note to partners, venture capital firm Sequoia announced it had written down its investment in FTX, worth $150m (£130m), to nothing. Continue reading…Technology | The Guardian