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Did they? The way I read it Sequoia bought ~$200m of magic beans from FTX, but in exchange banksman fraud invested ~$200mil back in Sequoia ventures.
by rasz 4y ago
Did they? The way I read it Sequoia bought ~$200m of magic beans from FTX, but in exchange banksman fraud invested ~$200mil back in Sequoia ventures.
- djbusby 4y agoThat's a wash-bet. Nothing was gained.
- rasz 4y agoMagic beans gained market cap and valuation.
- fasthands9 4y agoPresumably Sequoia wouldn't have done it if they weren't getting anything out of it. Is it too crazy to assume that they agreed to invest ~200M, in return for ~200M back and a percent of some token or stream? Both they and SBF would know a 200M investment would attract serious attention and retail buyers but both would need the other to make the headline. I don't want to sound too conspiratorial but seems odd they would bother to do a transaction for this while lending their name unless they were getting something back.