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Axios
Axios
Business

Sequoia Capital tells investors it did proper due diligence on FTX

FTX Sequoia Sequoia Capital Axios

Venture capital firm Sequoia Capital on Wednesday sent a letter to investors about its investment in FTX, the global crypto exchange that suddenly collapsed after being valued at over $30 billion.

Why it matters: Sequoia is arguably the most successful venture capital firm ever, having made early investments in such companies as Apple, Google and Airbnb. This episode is a rare black eye, leaving both the firm and its limited partners scrambling for information.

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