SCOOP: Sequoia Capital is targeting $2.25 billion for two U.S. VC funds, defying the chill over private tech investing Read Now

Mike Sullivan
Crypto Newsletter
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Consensus Attendance Drop-Off Creates Hurdles for CoinDesk

By  |  May 8, 2019 12:01 PM PDT
Photo: Mike Sullivan

As the crypto industry’s movers and shakers head to New York for the annual Consensus conference next week, I sat down with Kevin Worth, CEO of CoinDesk, the crypto news and data provider that organizes Consensus, to talk about how the weaker crypto market is weighing on the conference and on CoinDesk’s overall business.

While down from their all-time highs, crypto prices have gained ground this year: Below, we also discuss one crypto hedge fund, Pantera, that is seeing green after a year of heavy losses. In the last week alone, bitcoin gained almost 10%, even after Binance disclosed Tuesday that it had lost $40 million in a hack.

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Sequoia Capital Targets $2.25 Billion for Two U.S. VC Funds
Sequoia Capital global managing partner Doug Leone. Photo: Bloomberg
Sequoia Capital, defying the tech market sell-off that’s chilled startup fundraising, is asking investors to commit money to two new U.S.-focused funds, according to two people familiar with the matter. The Menlo Park, Calif.-based venture capital firm behind Airbnb and DoorDash expects to dedicate $1.5 billion to a U.S. growth fund focused on more mature companies, the people said....
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