ChainCatcher news reports that sources reveal venture capital firms will profit hundreds of millions of dollars from Stripe Inc.'s acquisition of the crypto platform Bridge for $1.1 billion in cash and stock.Institutions including Sequoia Capital, Ribbit Capital, Bedrock Fund Management, Index Ventures, and Haun Ventures have seen multiple returns on their investments in this startup. When Stripe agreed to acquire Bridge, it had been established for less than three years.Among them, Sequoia Capital holds a 16% stake in Bridge, potentially profiting over $100 million. It is reported that Sequoia Capital invested $19 million in Bridge's Series A funding round last year.Ribbit holds about 10% of Bridge, valued at approximately $100 million, while Bedrock and Index Ventures each hold about 6%, and Haun Ventures holds 4%. (Bloomberg)

ChainCatcher news, according to The Block, Web3 payment company Bridge, founded by former Coinbase and Square employees, has completed a $58 million funding round, with participation from Sequoia Capital, Ribbit, Index, and Haun Ventures.Bridge is building a stablecoin-based payment platform that offers services such as cross-border payments and foreign currency exchange. It has already partnered with Bitso to launch stablecoin-based B2B cross-border payments in Latin America.

ChainCatcher news, ZK order book trading platform Vessel has completed a $10 million seed round financing, with participation from Sequoia Capital, Scroll co-founders Sandy Peng and Ye Zhang, Avalanche Foundation, Algorand Foundation, IMO Ventures, Folius Ventures, Incuba Alpha, and a number of angel investors.The funds from this round of financing will be used to: combine the efficiency of CEX with the transparency of DEX, improve liquidity efficiency, and develop advanced ZKP solutions for DeFi.

ChainCatcher news, according to Bloomberg, AI startup Fireworks AI has completed a $52 million financing round, led by Sequoia Capital, with participation from Nvidia, Advanced Micro Devices Inc., and MongoDB Inc. The company's total funding has reached $77 million, with a valuation of $552 million.It is reported that Fireworks plans to use the new funds to expand its team and intends to broaden its partnerships with AI companies. Fireworks aims to help businesses adopt generative AI, allowing them to access over 100 models through its platform.

ChainCatcher news, according to The Information, Musk's AI company xAI is raising $6 billion in funding, with a valuation of $18 billion excluding this round of financing. This round of funding is backed by institutions such as Sequoia Capital.Insiders say that the financing is expected to be completed within the next two weeks. This round of funding represents the largest capital raise among startups competing to develop technologies similar to OpenAI and Anthropic, which can converse and create art like humans.

ChainCatcher news, according to The Block, cryptocurrency wallet infrastructure provider Safe has acquired the Sequoia Capital-backed cryptocurrency vault management platform Multis.It is reported that this acquisition brings Multis' technology and its senior leadership team into the Safe ecosystem foundation. Former CEO of Multis, Thibaut Sahaghian, is becoming a key contributor in the Safe ecosystem, serving as the head of network abstraction.

ChainCatcher message, the cryptocurrency trading platform EDX Markets supported by Citadel Securities, Fidelity Investments, and Charles Schwab has completed a Series B funding round, with the specific amount undisclosed. New investor Pantera Capital and existing investor Sequoia Capital jointly led the round.EDX CEO Jamil Nazarali stated that the funds will be used to develop new technologies and expand EDX's influence in new international markets, but declined to disclose the specific scale of the Series B funding.

ChainCatcher news, former partner Michelle Fradin, who previously led Sequoia Capital's investment in FTX, announced on the X platform that she has joined OpenAI. Michelle will be responsible for data work to help OpenAI (ChatGPT) build more useful models.

ChainCatcher news, according to Cointelegraph, 18 FTX investment firms including Temasek, Sequoia Capital, and SoftBank have been named as defendants in a class-action lawsuit filed in Miami due to their association with the now-bankrupt cryptocurrency exchange FTX. The plaintiffs claim that these investment firms are responsible for "aiding and abetting" FTX's fraud. The plaintiffs point out that the FTX cryptocurrency exchange violated multiple securities laws and misappropriated customer funds, while the defendants assert that they conducted due diligence.

According to ChainCatcher, Forbes reported that Sequoia Capital's Chief Operating Officer Sumaiya Balbale stated that the company laid off seven employees from its operations team last Friday, a decision that affects about one-third of the company's staff.Previous report, on July 20, after the departure of five partners, Sequoia Capital restructured its senior management. Longtime partner Michael Moritz announced he would leave Sequoia to focus on the wealth management firm Sequoia Heritage, which he co-founded. Another senior partner, Mike Vernal, will also depart, while Michelle Fradin, who led the investment in FTX, along with partners Kais Khimji and Daniel Chen, will also leave. Daniel Chen's Twitter bio claims he is a "cryptocurrency mogul."

ChainCatcher news, after the departure of five partners, Sequoia Capital has restructured its senior management.A company spokesperson confirmed that long-time partner Michael Moritz will leave the firm to focus on the company's independent wealth management business, Sequoia Heritage. Meanwhile, according to a knowledgeable source, partner Mike Vernal, who has been with the firm since 2016 and focused on early-stage startups, will also be leaving. Another partner, Daniel Chen, has also left the company in recent months. (source link)

ChainCatcher news, Indian P2E game development company Mobile Premier League (MPL) announced that its studio Mayhem Studios has completed a $20 million Series A funding round, led by Sequoia Capital, with participation from Steadview Capital, Truecaller, and others.It is reported that MPL launched the NFT marketplace Good Game Exchange (GGX) last month, and also initiated a Web3 gaming strategy based on play-to-earn (P2E) as part of its group development plan. (source link)

ChainCatcher news, according to court documents, a Delaware bankruptcy judge has approved the sale of FTX's $45 million stake in the Sequoia Capital fund to an investment department in Abu Dhabi.In addition, FTX has requested an indefinite postponement of the sale of its stock liquidation business, Embed. The hearing for the sale of Embed was originally scheduled for February 27 but has since been postponed. Court documents indicate that the hearing for the sale of Embed will be paused "until further notice." (source link)

ChainCatcher news, the encryption infrastructure Turnkey has completed a $7.5 million seed round financing, with participation from Sequoia Capital, Variant, and Coinbase.It is reported that Turnkey was founded by a team of former Coinbase Custody executives to provide the infrastructure for the crypto industry, which sees trillions of on-chain transactions. Its goal is to become the tool of choice for developers, allowing users to "generate hundreds of wallets and sign thousands of transactions on any chain." (The Block)