SoftBank on Friday disclosed a $100 million venture capital investment in crypto broker FTX and said it would not face a material markdown in the value of it stake in the struggling crypto brokerage.
Softbank 9984 SFTBY Chief Executive Masayoshi Son said his $100 billion Vision Fund invested in FTX in what he described as a minor stake in the company as FTX’s overall valuation ballooned up to $32 billion in September only to see it collapse this past week. “Investing in currency is actually a bit different from our vision,” he said. “Through the business of cryptocurrency there may be something that comes to the technology revolution like blockchain that can be a positive for AI. So that can be some interpretations to make an investment.”
IAmDonnieAzoff You can’t have a major money loss situation without seing SoftBank around
Haha these guys are the same ones that don’t want us to get on exchanges and buy crypto while they make an investment in the exchanges 😭
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