Sequoia Capital reaps 100 million USD from Stripe's acquisition of Bridge worth 1.1 billion USD

- The venture capital firm Sequoia Capital is expected to reap approximately 100 million USD after Stripe acquired Bridge for 1.1 billion USD. This is a significant profit in the context of decreased investment in the crypto sector since 2022.

- Sequoia invested 19 million USD in Bridge in a Series A funding round less than a year ago, holding 16% of the shares of this stablecoin platform. Other investors such as Ribbit Capital, Bedrock Fund Management, and Index Ventures are also expected to gain substantial profits from this deal.

- Stripe announced the deal on October 20, and it is expected to be finalized in the coming months after receiving approval from regulatory authorities. This deal marks one of the largest transactions in the crypto sector to date.

- Reports from Galaxy Digital indicate that venture capital investment in crypto has decreased by 20% in Q3 2024, down to 2.4 billion USD. However, Stripe's interest in Bridge is believed to be due to the strong growth of this platform in recent months. 🚀