The cryptocurrency exchange FTX failed in November last year. The assets of millions of users around the world were wiped out overnight. As one of the shareholders of FTX, Canada’s Ontario Teachers’ Pension Fund (OTTP) could only accept all losses. After nearly $100 million in investment was wasted, I was too scared to touch the cryptocurrency field again.
It is reported that OTPP has an asset size of US$190 billion and provides pensions for 330,000 teachers and school staff. It invested a total of US$95 million between FTX and FTX US at the end of 2021 and early 2022, but fell into liquidity in FTX After the crisis, the investment in FTX was written down to "zero" on its own.
Although OTPP emphasized in its statement at the time that "this investment accounts for less than 0.05% of our total net assets," according to the Financial Times report, after experiencing the FTX thunder incident, OTPP can now be said to be "invested in cryptocurrency." Stay away.”
OTPP CEO Jo Taylor said: “We are still looking at what is happening in the cryptocurrency space. This decision is based on feedback from our members and we believe it would be unwise to rush into another cryptocurrency investment now. "
Jo Taylor added that OTPP was focusing on new opportunities in real estate, while also looking to expand its exposure to private credit.
This article invested nearly 100 million US dollars in FTX and all went to zero! Canadian Pension Fund: Dare Not Touch Cryptocurrencies Again appeared first on Blockchain.
