June 23 (Cointime) - Alfred Lin, a partner at Sequoia Capital, defended the firm's investment in FTX, a now-bankrupt crypto exchange. Despite the loss, Lin stated that if given the opportunity to evaluate FTX again, Sequoia would likely make the same investment decision. Sequoia Capital invested a total of $213.5 million in FTX and FTX US through two of its funds, with the Global Growth Fund III holding a $150 million investment in FTX. Some users of the bankrupt exchange are now suing Sequoia and other financiers for their involvement in a promotional marketing campaign that added an "air of legitimacy" to FTX.
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Sequoia Capital Stands by Multimillion-Dollar Investment in Bankrupt Crypto Exchange FTX
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