EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

FTX Investor Lawsuit Targets VC Giants Sequoia and Paradigm

Admin by Admin
February 15, 2023
in Crypto News
0
Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter
MMC MMC

The fallout of the crypto exchange FTX has left deep scars on the investor community as more lawsuits continue. In the latest FTX investor lawsuit, venture capital and private equity giants like Sequoia Capital, Paradigm, and Thoma Bravo were accused in a lawsuit promoting the legitimacy of FTX.

Filed on Tuesday, February 14, the class action lawsuit on behalf of investors alleges that the firms participated in promotional marketing campaigns in 2021 to flex their investments worth several hundred million dollars across FTX entities. The lawsuit claims that the marketing campaigns provided an air of legitimacy to now-bankrupt FTX.

VC firms have faced massive criticism for investing huge sums in FTX even at 2021’s towering valuations. Before its collapse last year, the crypto exchange pegged a valuation of $32 billion.

Sequoia Capital, in particular, faced strong criticism as the VC giant continued to back Sam Bankman-Fried even on his casual behavior during investor meetings. SBF was reportedly playing games during these meetings.

Shortly after FTX filed for bankruptcy, Sequoia Capital decided to write down in full its $214 million investment in the crypto exchange

In aWe are in the business of taking risks. Some investments will surprise to the upside, and some will surprise to the downside.” The VC giant, however, claims that it did significant due diligence on FTX’s operations, notes the complaint.

The new team appointed at FTX has been working on the recovery of investors’ funds. So far, they have recovered north of $5 billion.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: CryptoFTXParadigmSequoia
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Siemens Make History on Blockchain

Next Post

FTX Negotiates for Return of $400 Million From Obscure Hedge Fund

Admin

Admin

Next Post
FTX Negotiates for Return of $400 Million From Obscure Hedge Fund

FTX Negotiates for Return of $400 Million From Obscure Hedge Fund

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0

Defi (Decentralized Finance)

0
Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

March 22, 2023
Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

March 22, 2023
Nvidia Teams Up With Microsoft On Industrial Metaverse

Nvidia Teams Up With Microsoft On Industrial Metaverse

March 22, 2023
CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

March 22, 2023

Recent News

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

March 22, 2023
Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

March 22, 2023
Nvidia Teams Up With Microsoft On Industrial Metaverse

Nvidia Teams Up With Microsoft On Industrial Metaverse

March 22, 2023
CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

March 22, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

March 22, 2023
Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

March 22, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>