BlackRock to Temasek counting the cost of FTX trading's collapse

[The_King]

HONG KONG (Nov 10): The clock is ticking for FTX.com investors to write down investments, as the crypto exchange warned of bankruptcy after rival Binance Holdings Ltd scrapped a takeover.

BlackRock Capital Investment Corp, Tiger Global Management LLC, Ontario Teachers' Pension Plan Board, Temasek Holdings Pte, and SoftBank Group Corp are among 13 investors who might have sold their FTX.com stakes to Binance had the deal gone ahead.

Investors may join Sequoia Capital in writing off the full value of their holdings. The fear and greed indicator showed bears are in full control over the FTX token.

 

A sudden loss of confidence in FTX.com prompted people to rush to withdraw money and sell off tokens associated with the company. FTX.com co-founder Sam Bankman-Fried told investors on Wednesday that without a cash injection the company would need to file for bankruptcy.

The sellers shown for the failed deal also include Coinbase Ventures, Sea Capital International Ltd, Tribe Capital Partners LLC, Paradigm Operations LP, Greenoaks Capital Management LLC, Lightspeed Management Co, New Enterprise Associates Inc, Multicoin Capital Management LLC, and Steadview Capital Management LLC. Sequoia Capital's full write-off suggested it saw no clear path to recouping its investment.

 

 

https://www.theedgemarkets.com/article/blackrock-temasek-counting-cost-ftx-tradings-collapse

[The_King]

buy high sell low live to his name

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