Sequoia Capital reduces the size of its cryptocurrency investment fund to $200 million

ChainCatcher news, The Wall Street Journal cited informed sources saying that Sequoia Capital has reduced the size of its cryptocurrency investment fund from $585 million to $200 million, and its ecosystem fund from $900 million to $450 million. Sequoia stated that due to the ongoing market downturn, the company had to scale back and plans to focus its cryptocurrency fund on supporting early-stage startups rather than large institutions that are facing challenges in the current market environment.