Odaily Planet Daily News According to a report by the Wall Street Journal on Thursday, people familiar with the matter revealed that Sequoia Capital has reduced the size of its cryptocurrency investment fund from US$585 million to US$200 million. The venture capital firm also cut its Ecosystem Fund, which invests in other venture funds, from $900 million to $450 million. Sequoia explained the cuts to investors in March, saying they were meant to reflect market conditions that have been characterized by persistent declines, the report said. The company reportedly plans to focus on backing young startups with the scaled-down cryptocurrency fund, rather than larger companies that are facing challenges in the current environment.