Venture capital giant Sequoia Capital has slashed the size of its cryptocurrency fund by over 65%, reducing it from $585 million to $200 million, Wall Street Journal reported citing sources familiar with the matter. The venture capital giant has also made corresponding cuts to its ecosystem fund, reducing it by half from $900 million to…
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The $85 billion venture capital firm launched the Sequoia Crypto Fund in February 2022. Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players. According to a July 27 Wall Street Journal report, the tech-focused VC firm…
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Change The Code, a Greenpeace-backed initiative that seeks to change Bitcoin’s consensus algorithm, has blasted Wall Street companies for the support they are showing to Bitcoin-related activities. On social media, it has called out companies like Fidelity, Blackrock, JPMorgan, and Goldman Sachs, stating their actions propping up climate-destroying technologies are “unacceptable.”
Change the Code…
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It’s a “tricky case,” as it is unknown what obligation these firms had to “completely separate investors,” suggests a crypto lawyer. Users of bankrupt crypto exchange FTX have reportedly taken aim at financiers who promoted the platform, suggesting their efforts added an “air of legitimacy” to the now-defunct exchange in a case labeled as “tricky”…
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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 has lost on the now-bankrupt crypto exchange FTX. The Wall Street Journal reported the apology, citing people familiar with the matter. Sequoia’s partners told the fund investors on a call on Tuesday that the…
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Venture capital giant Sequoia Capital is marking its investment in the embattled crypto exchange FTX down to $0. “In recent days, a liquidity crunch has created solvency risk for FTX,” the firm stressed, adding that “The full nature and extent of this risk is not known at this time.” Sequoia Capital Deems Its Investment in…
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The venture capital firm assured partners it ran a rigorous due diligence assessment when it invested in FTX, finding the exchange to generate $1 billion in revenue and $250 million in operating income. Venture capital firm Sequoia Capital tweeted out a letter sent to its partners on Nov. 10 revealing the firm had marked its…
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The Twitter deal is back on this month, and Binance confirmed to Cointelegraph that it intends to support the deal as part of its push for Web3 adoption. Binance and tech investor Sequoia Capital are reportedly still backing Tesla CEO Elon Musk’s $44 billion takeover bid of social media platform Twitter. Sequoia Capital already committed…
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Juno, the Singapore-based Web3 crypto firm that offers customers checking accounts tied to crypto assets, has raised $18 million in a Series A financing round led by Parafi Capital. The fresh capital follows the startup’s seed round in 2019 when Juno raised $3 million from investors. Juno Raises $18 Million in a Funding Round Led…
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A number of financial giants including Fidelity Digital Assets, Citadel Securities, and Charles Schwab Corp. announced on Tuesday that the consortium of companies plans to launch a cryptocurrency exchange called EDX Markets. Reports note that firms like Paradigm, Sequoia Capital, and Virtu Financial are also backing the new crypto trading platform. The story was first…
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