Sequoia Capital plans to increase investment in cryptocurrencies.

Venture capital giant Sequoia Capital announced that it plans to register as an investment advisor with the US Securities and Exchange Commission (SEC) to invest more in alternative assets such as cryptocurrencies. According to a statement issued by Sequoia partner Roelof Botha, the company is working to form a fund that will be able to invest without a "manual time frame." Botha described the traditional VC model as "outdated."