Sequoia Capital has restructured its venture team and dismissed two partners in the cryptocurrency field.

According to a BlockBeats report on July 20th, Bloomberg revealed that Sequoia Capital's longtime partner, Michael Moritz, announced on Wednesday that he will leave Sequoia to focus on his wealth management company, Sequoia Heritage, which he co-founded. Another senior partner, Mike Vernal, will also leave. At the same time, Michelle Fradin, who led the investment in FTX, and partners Kais Khimji and Daniel Chen will also depart. Daniel Chen's Twitter profile claims to be a "cryptocurrency giant". These changes may have an impact on Sequoia Capital's investment strategy and business, and also reflect the recent turbulence and uncertainty in the cryptocurrency industry.