Firm once valued at $25bn in 2021 suffered bank run-style crisis as investors rushed to withdraw money
FTX, once the second largest cryptocurrency exchange in the world, is now worthless, according to one of the company’s early investors.
In a note to partners, the venture capital firm Sequoia announced it had written down its investment in FTX, worth $150m (£130m), to nothing.
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Originally posted in the guardian.
