Several crypto companies and firms are beginning to feel the extent of the damage of the FTX collapse, as some of them have funds stuck in the exchange.
While some of the affected companies have started disclosing their exposure, the extent of the damage could be far bigger than imagined, considering the amount that went up in smoke over the past couple of days.
Crypto Companies Feel The Pinch
Venture capital firm Sequoia Capital has announced a loss of its $213.5 million investment in the exchange. In a letter sent to its partners, it stated that it was marking down its investment to zero.
Since the incident, at…
