Cointime

Cointime

Download App
iOS & Android
Home / Financing

Sequoia Capital Apologizes to Investors After $150 Million FTX Loss

Sequoia Capital partners apologized to investors for the $150 million it lost on investments in crypto exchange FTX, the Wall Street Journal reported.

In a Tuesday call with investors, Sequoia partners said the firm would improve its due-diligence process on future investments and that it believed it was misled by FTX founder and CEO Sam Bankman-Fried.  During the call, one partner at Sequoia reportedly said the firm will be able to have a Big Four accounting firm audit financial statements of the early-stage startups it invests in, the Wall Street Journal reported. 

FTX
Comments

All Comments

Recommended for you

  • AI agent startup /dev/agents completes $56 million seed round with a valuation of $500 million, led by Index Ventures and CapitalG

    On December 18th, it was reported that the AI agent operating system platform /dev/agents founded by former Stripe CTO David Singleton has completed a seed round of financing worth $56 million with a valuation of $500 million. This round of financing was led by Index Ventures and CapitalG, with participation from Conviction Capital. Many outstanding technology leaders, including Andrej Karpathy, co-founder of OpenAI, Alexandr Wang, CEO of Scale AI, Nikesh Arora, CEO of Palo Alto Networks, and Andy Rubin, founder of Android, also participated in this round of financing.

  • Topology Ventures raises $75 million in new fund to invest in decentralized networks and other areas

    According to a report from Fortune, Topology Ventures' new fund has raised $75 million and will invest in cutting-edge technology, artificial intelligence, decentralized networks, neural technology, aerospace, and robotics. The fund is led by Cendana Capital and Accolade Partners and has received three times the amount of oversubscription. Other partners include Marc Andreessen of a16z, Bob Goodman of Bessemer Management, and Paris Hilton, co-founder of OpenAI.

  • Waterfall Network Completes $11.6 Million Funding

    On December 13th, Waterfall Network, an intelligent contract platform, announced the completion of a new round of financing worth $11.6 million, with participation from Bolt's Capital, Alpha Token Capital, and Enflux. The funds will be used to strengthen the platform's infrastructure, simplify nodes, and further improve it.

  • Fantasy.top Completes $4.25 Million Seed Round Financing, Led by Dragonfly

    Fantasy.top, a decentralized card game based on Blast, has completed a $4.25 million seed round of financing and launched the platform's second version, Fantasy V2. The round was led by Dragonfly with participation from Manifold Ventures. The financing will be used to enhance Fantasy's core products: card trading games and virtual betting.

  • Financial technology platform KAST raises $10 million in seed funding for neobank-style experience using stablecoins.

    Financial technology platform ChainwireKAST has secured $10 million in seed funding from HongShan Capital Group and Peak XV Partners. The platform offers payment cards and USD-denominated accounts to users in over 150 countries, as well as the ability to send and receive cash. KAST plans to launch savings and remittance products without the need to touch fiat directly. Stablecoins have seen significant growth, with analysts predicting over 1 billion users by 2030.

  • Renowned philanthropist Qian Fenglei has completed $100 million in financing to build the blockchain ecosystem FO-X

    well-known philanthropist and chairman of Hengfeng International, Qian Fenglei, has completed his first $100 million financing. Qian Fenglei personally invested $50 million, and the remaining funds came from his 50 old friends. Hengfeng International will be committed to building an ecological platform FO-X based on blockchain technology for everyone, leading 1 billion users to enjoy the dividends brought by blockchain technology.

  • Cross-border stablecoin payment company Sphere completes $5 million financing, led by Coinbase Ventures and others

    On December 12th, cross-border stablecoin payment company Sphere completed a $5 million financing round, led by Coinbase Ventures and Kraken Ventures. The funds raised will be used for further investment in regulatory compliance and risk management capabilities. Sphere was founded by Arnold Lee and Luigi Charles in 2022 and enables stablecoin cross-border payments between enterprises through partnerships with global fintech companies and licensed remittance service providers. Stablecoins can also be exchanged for local fiat currency at the destination.

  • Stablecoin payment platform KAST completes $10 million seed round of financing, led by Peak XV and HongShan

    On December 12th, Redstone China (HongShan) and Redstone India (Peak XV) jointly led a $10 million seed round financing for KAST, a stablecoin payment platform. KAST is a stablecoin-based banking platform that allows users to hold and use stablecoins through traditional payment channels. It also provides credit card services that can be used in standard merchant networks, allowing users to spend their stablecoin assets at merchants that do not support cryptocurrency payments.

  • Bitcoin mining company BTC Digital raises $20 million in public offering

     BTC Digital (NASDAQ: BTCT), a listed bitcoin mining company, announced that it has raised $20 million through a public offering. The company is committed to expanding its mining business through sustainable green energy solutions and enhancing its computing power deployment capabilities. BTCT also plans to strengthen its internal research and development capabilities and promote technological innovation.

  • Web3 AI cloud startup Hyperbolic completes $12 million Series A funding round led by Variant and Polychain Capital

    According to Coinness, financial news outlet Web3 AI cloud startup Hyperbolic has announced the completion of a $12 million Series A funding round, led by Variant and Polychain Capital. Other investors include Chapter One, Lightspeed Faction, Bankless Ventures, GSR, IOSG, Vertex, Blockchain Builders Fund, Wintermute, Alumni Ventures, Ambush Capital, and several angel investors. With this investment, Hyperbolic has raised a total of $20 million. The new funds will be used to expand the engineering and strategic teams and enter the market. Hyperbolic plans to launch its own blockchain next year. The company plans to integrate global GPU computing resources with blockchain technology to provide the market with verifiable, secure, and reliable AI services, effectively alleviating the industry's pain points of high computing resource costs and uneven distribution. Additionally, the company has launched a decentralized orchestration layer, Hyper-dOS (Hyperbolic distributed operating system), which provides solid technical support for the entire GPU market.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company