Sequoia has marked its investment in FTX down to $0

#1

Post by dwynings » Thu, Nov 10, 2022, 2:17 AM UTC

Sequoia has marked its investment in FTX down to $0
twitter.com

Re: Sequoia has marked its investment in FTX down to $0

#2

Post by [deleted] » Thu, Nov 10, 2022, 2:43 AM UTC

[deleted]

Re: Sequoia has marked its investment in FTX down to $0

#3

Post by paulpauper » Thu, Nov 10, 2022, 2:45 AM UTC

$0. That sounds about right.

Wow.. I think Mr. Bankman's wealth was $100 billion in Jan 2022 according to a Fortune estimate. I wonder what would have happened had CZ not made that tweet. Hmm...makes you wonder who profited from all of this. Imagine if binance bought puts on BTC before this announcement.

Re: Sequoia has marked its investment in FTX down to $0

#4

Post by friedman23 » Thu, Nov 10, 2022, 2:47 AM UTC

So their cost basis was $150mm. What was the highest valuation FTX was marked at? I'm curious what the real change in value was for this fund.

Re: Sequoia has marked its investment in FTX down to $0

#5

Post by techsplooge » Thu, Nov 10, 2022, 2:48 AM UTC

So much FUD around this event. FTX is fine, they have a stadium and other high profile sponsorships.

Re: Sequoia has marked its investment in FTX down to $0

#6

Post by danrocks » Thu, Nov 10, 2022, 2:48 AM UTC

This piece will forever be on their site, however: [0].

[0] - https://www.sequoiacap.com/article/sam-bankman-fried-spotlig...

Re: Sequoia has marked its investment in FTX down to $0

#7

Post by braingenious » Thu, Nov 10, 2022, 2:49 AM UTC

techsplooge wrote: post #5

So much FUD around this event. FTX is fine, they have a stadium and other high profile sponsorships.

lol

Re: Sequoia has marked its investment in FTX down to $0

#8

Post by [deleted] » Thu, Nov 10, 2022, 2:50 AM UTC

techsplooge wrote: post #5

So much FUD around this event. FTX is fine, they have a stadium and other high profile sponsorships.

[deleted]

Re: Sequoia has marked its investment in FTX down to $0

#9

Post by wmf » Thu, Nov 10, 2022, 2:50 AM UTC

friedman23 wrote: post #4

So their cost basis was $150mm. What was the highest valuation FTX was marked at? I'm curious what the real change in value was for this fund.

$32B in September.

Re: Sequoia has marked its investment in FTX down to $0

#10

Post by babyshake » Thu, Nov 10, 2022, 2:57 AM UTC

paulpauper wrote: post #3

$0. That sounds about right. Wow.. I think Mr. Bankman's wealth was $100 billion in Jan 2022 according to a Fortune estimate. I wonder what would have happened had CZ not made that tweet. Hmm...makes you wonder who profited from all of this. Imagine if binance bought puts on BTC before this announcement.

We probably don't have to imagine.