According to BlackRock CEO Larry Fink, there appears to have been some misbehavior at crypto firm FTX, but the technology behind crypto is relevant for the future.
“We’ll have to wait and see how this all plays out” (with FTX). “I mean, right now we can make all the judgment calls, and it looks like there were major misbehaviors,” Fink said at a New York Times Dealbook event, adding that BlackRock invested $24 million in FTX through a fund of funds it manages.
Fink also stated that it appeared that there were misbehaviors in FTX, but would not speculate on whether BlackRock and venture capital firm Sequoia, which had invested $213.5 million in FTX and has since reduced that amount to zero, had been misled by FTX.
FTX owes more than $3 billion to its top 50 creditors and an estimated 1 million creditors in total.
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