Ontario Teachers' Pension Fund Writes Down Entire Investment in Bankrupt Crypto Exchange FTX Citing 'Potential Fraud' – Featured Bitcoin News

Ontario Teachers' Pension Fund Writes Down Entire Investment in Bankrupt Crypto Exchange FTX Citing 'Potential Fraud'

The statement explains that the Ontario Teachers’ Venture Growth fund invested C$75 million in FTX International and its U.S. entity, FTX US, in October last year. In January, the fund made a follow-up investment of C$20 million in FTX US.Our investment represented less than 0.05% of our total net assets and equated to ownership of 0.4% and 0.5% of FTX International and FTX US, respectively.

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Ontario Teachers' Pension Plan to write down $95 million FTX investment to zeroOne of the world's largest pension plans is set to write its investment in FTX down to zero following the firm's bankruptcy filings. who is responsible for the DD on the investment? Many were affected by the FTX saga, but some cases are sadder and more worrying as they are more than the 'money' and earns by some people. Many teacher's life is now sadly affected by the actions of some. The real 'magnitude' of the FTX saga is yet to be exposed. Sadly there are still many affected that haven't come to light.
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Ontario Teachers’ Pension Plan is latest FTX investor to mark venture investment to zeroPension plan makes rare public statement as one of dozens of private-market investors that lost money on the demise of the crypto broker. Oopsieee, hope my org doesn’t have to make up for this loss for Teachers. This is what happens when speculation goes wild. Ever since the advent of online trading and crypto boom people treat these assets like a casino with no care for the genuine underlying value.
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The FTX contagion: Which companies were affected by the FTX collapse?Some of the firms affected include Genesis, Sequoia Capital, Galaxy Digital, and Galois Capital.
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