The Daily Chase: Ontario Teachers' Pension Plan writes off FTX investment; Qatar bans FIFA boozes - BNN Bloomberg

the entire value of its investment in Sam Bankman-Fried's now-bankrupt FTX, citing potential fraud, as the impact of the cryptocurrency exchange's spectacular flameout ripples through to Canada. OTPP says it will book a US$95 million loss as a result of the bankruptcy, an abrupt end to a position it entered just a year ago The pension plan giant with $242.5 billion in assets under management says the writeoff will have a limited impact, given that the FTX investment was less than 0.

Well, Elon Musk's ultimatum that Twitter employees either commit to the company's new “hardcore” work mode or get out has, uh, not gone the way the world's richest man intended. According to reporting from our Bloomberg News partners, employees have been leaving en masse in the wake of the pronouncement, dealing a blow to Musk's shiny new US$44 billion toy.

Shares of The Gap are jumping in the premarket – up nearly nine per cent – after the clothing retailer topped quarterly expectations. Oddly, for anyone that's watched the company for any amount of time, it was perpetual laggard Banana Republic that led the way in comparable sales growth, up 10 per cent.Notable data: Teranet-National Bank House Price Index, Industrial Product and Raw Materials Price Indices, : International Securities Transactions, U.S. Existing Home Sales, U.S.

AND real estate is STILL 40 YO 50 PERCENT OVER VALUED

AND... kevinolearytv is a god dam dbag

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Ontario Teachers’ Pension Plan writes down FTX investment to zero | Globalnews.caThe Ontario Teachers' Pension Plan says it is writing down its US$95-million investment in FTX, the cryptocurrency exchange that collapsed last week, to zero.
Source: GlobalNational - 🏆 81. / 51 Read more »

Ontario Teachers writes off FTX stake, citing potential fraud - BNN BloombergOntario Teachers’ Pension Plan said it will write down its stake in FTX to zero, taking a US$95 million loss barely a year after making its first investment in Sam Bankman-Fried’s now-bankrupt cryptocurrency exchange. Pure insanity Those who decided to invest in this mockery without any due diligence required should be written off and never be allowed to manage money in their remaining earthly life. Crazy. In my experience 'fiduciaries ' like this are too reluctant to take even a reasonable amount of risk. This is not only negligent but wildly stupid
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Singapore-backed Temasek marks down $275M FTX investment to 0Singapore-based Temasek Holdings Limited has announced that it will write off its $275 million investment into FTX and its associated companies. This, owing to recent developments and emerging doubts over its financial position. Temasek is a state-backed investment agency that invested $210 million in FTX International for a 1% stake and $65 million in FTX […]
Source: CryptoAmb - 🏆 22. / 68 Read more »