Cryptocurrency exchange FTX now worthless, says key investor

Firm once valued at $25bn in 2021 suffered bank run-style crisis as investors rushed to withdraw money FTX, once the second largest cryptocurrency exchange in the world, is now worthless, according to one of the company’s early investors.In a note to partners, the venture capital firm Sequoia announced it had written down its investment in FTX, worth $150m (£130m), to nothing. Continue reading...