Sequoia Capital on Wednesday assured investors that the company had limited exposure to FTX and will pull out of its investment in the troubled cryptocurrency exhange, after an FTX deal with peer Binance collapsed.

Sequoia, one of the world's top venture capital firms, said that its $150 million exposure to both FTX and FTX.US in its third global growth fund represents less than 3% of the fund's total capital commitment. (Reuters)