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Regulators froze some assets of the digital currency exchange
and industry peers are trying to limit losses, while former FTX
Chief Executive Sam Bankman-Fried is coming under scrutiny.
FTX, founded in 2019, expanded rapidly and was valued at $32
billion in January 2022 during a fundraising.
Here's what investors in FTX are saying now:
SOFTBANK
The total investment of SoftBank Group Corp's Vision Fund in the
U.S. and international operations of FTX is less than $100
million, a source close to SoftBank said on Friday.
SoftBank is marking down its FTX investments to zero, the source
said. The complications at FTX mark the latest difficulty for
the Vision Fund, which has been hit in recent quarters by a
global tech rout.
SEQUOIA CAPITAL
Sequoia Capital said on Wednesday that it would mark down its
total investments in FTX to $0.
In a letter posted on Twitter, Sequoia said that its Global
Growth Fund III invested $150 million in FTX.com and FTX US,
which accounted for less than 3% of the fund's committed
capital, while the Sequoia Capital Global Equities fund invested
$63.5 million.
"The fund remains in good shape," it said.
ONTARIO TEACHERS PENSION PLAN
The Ontario Teachers Pension Plan (OTPP) said on Thursday it had
invested a total of $95 million in FTX.
Any financial loss from the exposure will have limited impact on
the pension plan, OTTP said.
TEMASEK
Singapore's state-owned investor Temasek is preparing to write
off its investment in FTX, Bloomberg News reported on Wednesday,
citing a person familiar with the matter.
The company had invested between $200 million and $300 million
in the crypto exchange, according to the report.
CIRCLE
Fintech company Circle CEO Jeremy Allaire said in a tweet on
Wednesday that "Circle is a tiny equity holder of FTX, and FTX
is a tiny equity holder of Circle."
(Reporting by Elizabeth Howcroft; Additional reporting by Niket
Nishant; Editing by Sumeet Chatterjee, Jane Merriman and Shounak
Dasgupta)
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