Sequoia Capital apologizes to investors for losing $150 million in the FTX incident

According to ChainCatcher, the Wall Street Journal reported that Sequoia Capital apologized to investors during a conference call for its $150 million loss in the FTX incident, stating that it conducted due diligence on FTX, but the company's founder SBF misled them about the connection between FTX and Alameda Research. They will improve their due diligence process for future investments and have one of the Big Four accounting firms audit the financial statements of early-stage companies.

ChainCatcher previously reported that Sequoia Capital has written down its investments of $150 million in FTX and FTX.US through its private equity fund Global Growth Fund III, as well as $63.5 million in FTX and FTX.US through SCGE Fund, LP as investment losses. (Wall Street Journal)