FTX’s crash highlights flaws like Sequoia’s lack of access to Alameda’s balance sheet despite its due diligence and the investors failing to demand a board seat (Bloomberg)

Berber Jin / Wall Street Journal:
Sources: Sequoia apologized to its fund investors for the $150M it lost on FTX and told them it would improve its due diligence process on future investments  —  Venture-capital firm tells fund investors that it will improve due diligence on future investments after $150 million loss on crypto exchange

Joshua Oliver / Financial Times:
Filing: US bank Silvergate acknowledges processing wire transfers for traders on Alameda, saying it conducted “extensive due diligence” on FTX and Alameda  —  Federal Reserve-regulated company says it performed ‘significant due diligence’ on FTX and Alameda Research

Dan Primack / Axios:
Sequoia tells investors it is marking down its FTX investment, totaling $213.5M across two funds, to zero dollars, saying it “ran a rigorous diligence process”  —  – Its $150 million of exposure to both FTX and FTX.US in its third global growth fund represents less than 3% of that fund’s total capital commitment.

Lawrence Abrams / BleepingComputer:
Microsoft releases 63 security fixes, including patches for two zero-day flaws, one of which is under active exploit, and five critical RCE vulnerabilities  —  Today is Microsoft’s September 2022 Patch Tuesday, and with it comes fixes for an actively exploited Windows vulnerability and a total of 63 flaws.

Lawrence Abrams / BleepingComputer:
Microsoft releases 68 security fixes, including patches for six actively exploited Windows zero-day flaws and 11 vulnerabilities classified as Critical  —  Today is Microsoft’s November 2022 Patch Tuesday, and with it comes fixes for six actively exploited Windows vulnerabilities and a total of 68 flaws.

Kate Clark / The Information:
SBF quietly invested $500M+ in Paradigm, Altimeter, and other VCs, including, sources say a $200M commitment to Sequoia, and $300M to K5 per PitchBook  —  FTX founder Sam Bankman-Fried was not only a tireless fundraiser from venture capital firms including Paradigm and Sequoia Capital …