Sequoia tweeted a copy of their letter to LPs on FTX this evening. They marked down their investment to $0. Writing off a 3% position may be small but $150m is $150m. Admittedly, you have to admire how quickly they reacted to the problem and how transparent they are in doing so.
Qubit: Sequoia Capital on FTX
Qubit: Sequoia Capital on FTX
Qubit: Sequoia Capital on FTX
Sequoia tweeted a copy of their letter to LPs on FTX this evening. They marked down their investment to $0. Writing off a 3% position may be small but $150m is $150m. Admittedly, you have to admire how quickly they reacted to the problem and how transparent they are in doing so.