Canada Pension Fund Invested In FTX In A $400 Million Round
As part of a $400 million fundraising round, the Ontario Teachers’ Pension Plan invested in FTX in January of this year. The FTX debacle may result in significant losses for Canada’s third-largest pension system.
A small group of investors, including the Ontario Teachers’ Pension Plan, participated in FTX’s $400 million Series C investment round in January. Other institutional investors in the round included Paradigm, Lightspeed Venture Partners, Steadview Capital, and SoftBank. Wu Blockchain cited The Globe and Mail article for this information.
The fund now oversees about $242 billion in net assets, so the $400 million investment may not put too much pressure on it. However, the fund could experience significant media backlash, which might lead to heightened regulatory monitoring of investments in the cryptocurrency market.
The exposure of the pension fund to SBF’s exchange may surpass the January investment. At the time, FTX claimed that all Series C investors, including the fund, also invested in the exchange. An $8 billion US Series A investment round valued the firm.
Sam Bankman-Fried, the CEO of FTX and Alameda Research, stated yesterday that FTX.US has not been impacted by the controversy and would continue to exist independently even if the agreement is finalized.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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Canada Pension Fund Invested In FTX In A $400 Million Round
As part of a $400 million fundraising round, the Ontario Teachers’ Pension Plan invested in FTX in January of this year. The FTX debacle may result in significant losses for Canada’s third-largest pension system.
A small group of investors, including the Ontario Teachers’ Pension Plan, participated in FTX’s $400 million Series C investment round in January. Other institutional investors in the round included Paradigm, Lightspeed Venture Partners, Steadview Capital, and SoftBank. Wu Blockchain cited The Globe and Mail article for this information.
The fund now oversees about $242 billion in net assets, so the $400 million investment may not put too much pressure on it. However, the fund could experience significant media backlash, which might lead to heightened regulatory monitoring of investments in the cryptocurrency market.
The exposure of the pension fund to SBF’s exchange may surpass the January investment. At the time, FTX claimed that all Series C investors, including the fund, also invested in the exchange. An $8 billion US Series A investment round valued the firm.
Sam Bankman-Fried, the CEO of FTX and Alameda Research, stated yesterday that FTX.US has not been impacted by the controversy and would continue to exist independently even if the agreement is finalized.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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