SBF invested heavily in Sequoia as a limited partner. Him raising money from Sequoia in return was a way of adding legitimacy to his empire. Sequoia's motivatio

SBF invested heavily in Sequoia as a limited partner. Him raising money from Sequoia in return was a way of adding legitimacy to his empire. Sequoia's motivation was simply to make money. Even famous VC firms aren't immune to making dumb decisions or falling for some fantasy hype rationale. Sequoia had a very fawning blog piece on SBF up that paints a very unfavorable picture of the decision making here, and hilariously enough they were proud of it until the bubble popped.