The Ontario pension fund invested US$75 million in FTX International and its US entity FTX.US in October 2021 followed by an additional US$20 million in FTX.US in January this year.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Ontario Teachers’ says the investment represented less than 0.05 per cent of its total net assets and equated to ownership of 0.4 per cent and 0.5 per cent of FTX International and FTX.US, respectively.tap here to see other videos from our teamIt says the loss will have a limited impact on the plan, given its size relative to its total net assets and strong financial position.
John Ray III, who was appointed CEO at FTX last week, has called the situation a “complete failure” of corporate control at the cryptocurrency exchange.
Hmm will there be a strike coming up demanding we give them back that money? You know for the kids.
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