- Posted on November 10, 2022
- News
- By FC Team
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KEY POINTSVenture capital firm Sequoia Capital said it will mark down to zero its investment of over $210 million in cryptocurrency exchange FTX, as possibilities of bankruptcy loom.“Based on our current understanding, we are marking our investment down to $0,” the Silicon Valley-based firm said Wednesday.“The fund remains in good shape,” it said in a statement posted on its Twitter accountVenture capital firm Sequoia Capital said it will mark down to zero its investment of over $210 million in cryptocurrency exchange FTX, as possibilities of bankruptcy loom.“In recent days, a liquidity crunch has created solvency risk for FTX,” Sequoia said in a note to investors posted on Twitter.“Based on our current understanding, we are marking our investment down to $0,” the Silicon Valley-based firm said Wednesday.