Kraken founder accuses venture capital firms, including Sequoia, of enabling fraud at FTX, a bankrupt company. The founder claims that these “incompetent VCs” invested in FTX despite the obvious signs of fraud. This revelation raises questions about the due diligence conducted by these firms before investing. The accusations highlight the need for stricter scrutiny and accountability in the venture capital industry. The involvement of reputable firms like Sequoia in such a scandal is concerning and may have repercussions for their reputation. This incident serves as a reminder of the risks associated with investing in the cryptocurrency space and the importance of thorough research before making investment decisions.

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Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	1
People	None
Companies	FTX, Sequioa
Currencies	None
Securities	None