Sequoia Capital Partner’s Bold Endorsement of FTX: We’d Invest Again in a Heartbeat!

  • Sequoia Capital partner Alfred Lin defends their investment in the bankrupt cryptocurrency exchange FTX, stating that there was no mistake in their decision.
  • Lin expresses that if given the opportunity, he would still choose to invest in FTX.
  • He emphasizes that Sequoia’s investment strategy is based on calculated risks and that failures are a natural part of the process.

Sequoia Capital partner Alfred Lin defends the firm’s investment in the bankrupt cryptocurrency exchange FTX, highlighting their thorough evaluation and confidence in their decision-making process. Despite the losses incurred, Lin expresses continued support for FTX and emphasizes Sequoia’s strategy of taking calculated risks and embracing failures as part of the investment journey. Explore the rationale behind Sequoia Capital’s investment and their resilient approach to the cryptocurrency sector.

Sequoia Capital Partner Defends Investment in Bankrupt Crypto Exchange FTX

Sequoia Capital partner Alfred Lin recently spoke at the Bloomberg technology summit, where he defended the investment made by the firm in the bankrupt cryptocurrency exchange FTX. Lin stated that they have evaluated the investment from various perspectives and could not find any mistakes in their decision-making process.

Continued Confidence in FTX

Despite the losses incurred by FTX, Lin expressed that if given the chance, he would still choose to invest in the exchange. He mentioned that he had thoroughly evaluated the business and would likely make the same investment again.

Calculated Risks and Natural Failures

Lin highlighted that Sequoia Capital’s investment strategy is based on taking calculated risks. He emphasized that failures are a natural part of the investment process and that even with the loss of millions of dollars in FTX, the company remains enthusiastic about the cryptocurrency sector.

Sequoia Capital, known for its steadfast investments in the cryptocurrency industry, had approximately $214 million invested in the bankrupt FTX, according to the information disclosed after the exchange’s bankruptcy.

The company’s “Global Growth Fund 3” had a total investment of $150 million in FTX and FTX US, while the “Capital Global Equities Fund” had an investment of around $64 million. The shares of FTX and FTX US held by the two funds accounted for less than 3% and 1% of their total sizes, respectively.

Although the company referred to their investments in FTX as a “total loss” after the bankruptcy, they emphasized that the loss would not affect their operations and liquidity.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Ethereum Developers Delay Gas Limit Increase Amid FOCIL Implementation and EVM64 Advancements

COINOTAG News reported on June 8th that during the...

Bitcoin Liquidation Intensity Could Surge to $885M if Price Drops Below $104,000, Coinglass Data Reveals

According to recent data from Coinglass, the Bitcoin price...

James Wynn Opens 40x Leveraged Bitcoin Short Amid Repeated Liquidations

James Wynn, a prominent trader, recently disclosed on Platform...

James Wynn Closes 40x Bitcoin Long Position, Incurs $70.71 Loss on BTC Trade

COINOTAG News reports that on June 8th, James Wynn...

Major SOL Whale Redeems $25M in Two Months, Transfers 50,000 SOL to Binance

According to data from Onchain Lens, a prominent whale...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img