#sequoia
3 articles found
Latest
Kalshi valued at $5B after $300M round, eyes global expansion
Kalshi raised more than $300 million at a $5 billion valuation and opened access to users in over 140 countries on Friday. The event-trading platform secured funding from Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG and Coinbase Ventures to fund the international expansion. 
The venture capital fund has reduced its funding for crypto projects from $585 million to $200 million. Moreover, it's halved investments aimed at backing individual investors.
"We made these changes to sharpen our focus on seed-stage opportunities and to provide liquidity to our limited partners," commented representatives from Sequoia Capital. 
Several leading venture capital companies such as Temasek, Sequoia Capital, and Softbank, are now facing legal challenges over alleged complicity in FTX fraud.
The claimants in the lawsuit accuse the investors of using their power and financial resources to support the exchange's activities, despite numerous legal violations and misappropriation of customer funds by FTX.
For instance, before the eventual bankruptcy of the exchange, Temasek affirmed that their rigorous eight-month scrutiny of financial aspects and compliance standards yielded no troubling findings. 1 - 3 of 3 results