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'We're going to dream a little less': Sequoia's Doug Leone on fallout from FTX's collapse

CNBC Finance LogoCNBC Finance1w ago

'We're going to dream a little less': Sequoia's Doug Leone on fallout from FTX's collapse - CNBC Finance

Quick Summary:

Billionaire venture capitalist Doug Leone said there wasn't much his firm Sequoia Capital could do to predict the solvency crisis at FTX.

Sequoia, which invested $210 million in FTX, wrote down the value of its stake in the crypto exchange to zero last week after rival exchange Binance's withdrawal of an offer to rescue the company left it facing bankruptcy.

HELSINKI, Finland — Billionaire venture capitalist Doug Leone said there wasn't much his firm Sequoia Capital could do to predict the solvency crisis at FTX.


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Category: MarketsFinanceInvesting

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-18 @ 23:56:28 (1 weeks ago)

News Timezone: GMT -5:00

Ranking: #1330 (out of 1974 stories this day)

News Source URL: cnbc.com

Language: English

Article Length: 668 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CNBC Finance

News ID: 1910830

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Main Topics: MarketsFinanceInvesting

Official Website: cnbc.com

Update Frequency: 2 posts per day

Year Established: 2005

Headquarters: United States

News Last Updated: 1 days ago

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