Venture capital giant Sequoia, which wrote off its entire $150 million investment in FTX this week, justified its investment in the company by citing FTX’s strong financials for 2021. The venture fund touted the $1 billion in revenue from FTX and $250 million in operating income as evidence of the company’s legitimacy, both figures corroborated by leaked reports from CoinDesk’s Prager Metis.