The Ontario pension fund invested US$75 million in FTX International and its US entity FTX.US in October 2021 followed by an additional US$20 million in FTX.US in January this year.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Ontario Teachers’ says the investment represented less than 0.05 per cent of its total net assets and equated to ownership of 0.4 per cent and 0.5 per cent of FTX International and FTX.US, respectively.tap here to see other videos from our teamIt says the loss will have a limited impact on the plan, given its size relative to its total net assets and strong financial position.
John Ray III, who was appointed CEO at FTX last week, has called the situation a “complete failure” of corporate control at the cryptocurrency exchange.
Hmm will there be a strike coming up demanding we give them back that money? You know for the kids.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ontario Teachers' Pension Plan writes down FTX investment to zeroThe 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. All I can say . The Canadian tax payer better not pay for this $95m investment LOSS. I am not paying a dime . Will someone get fired over this debacle? Well if the Democrats, who’ve financially benefited from FTX via Ukraine look at Trudeau doing the same here. With taxpayer money.
Source: CTVCalgary - 🏆 26. / 68 Read more »
Ontario Teachers' Pension Plan writes down US$95M FTX investment to zeroThe 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. pierrepoilievre's financial prowess in action. 🙄 …why would you invest in nonsense?… As if teachers don't have it difficult enough already. Ontario teachers ought to sue the company that invested their hard earned pensions on a ponzi scheme. onpoli
Source: CP24 - 🏆 30. / 67 Read more »
Ontario Teachers' Pension Plan writes down US$95M FTX investment to zeroThe Ontario Teachers\u0027 Pension Plan says it is writing down its US$95\u002Dmillion investment in FTX to zero. Lol who signed off on that awful investment. True.. very rich teachers pension plan. However 95M nothing to downplay.... Sue them
Source: TheTorontoSun - 🏆 23. / 68 Read more »
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 »