Canada’s Ontario Teachers Pension Plan is in jeopardy due to its large investment in the cryptocurrency exchange FTX, which is currently facing a significant liquidity crunch.from The Globe and Mail revealed that OTPP invested in FTX a year ago when the firm was valued at $25 billion. The pension plan bought its first FTX stake in October 2022 during a $420 million funding round alongside 69 other investors.
which manages the pensions of 333,000 active and retired Ontario teachers, currently oversees over $242 billion in assets.Reuters in September that FTX as an exchange carried the lowest risk in the whole crypto asset class and that the fund’s investment had grown well amid the market’s volatility.“In terms of the risk profile, probably the lowest risk profile you can have in that it’s everybody else is trading on your platform,” he said.
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FTX's U.S. business is in troubleFTX US is separate from FTX, but its fate is likely to be equal.
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