Getty ImagesThat’s noted venture capital firm Sequoia Capital on its ill-fated investment in the crypto exchange FTX, which it has now marked to zero. It said it’s taking a $150 million loss on its investment, but that the fund that has the FTX investment in its portfolio has some $7.5 billion worth of gains, “so the fund remains in good shape.” Another fund invested nearly $64 million, representing less than 1% of its portfolio.https://twitter.com/sequoia/status/1590522718650499073Sequoia is one of several big name firms that had backed FTX. On social media, users will quick to note the story — told on Sequoia’s own web site — that staffers at the venture firm were excited by the pitch by founder Sam Bankman-Fried, during which he was playing a video game.https://twitter.com/zebulgar/status/1590394857474109441Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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