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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. 

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