Bloomberg reported that FTX investors, including Sequoia Capital, Temasek and SoftBank, are writing off hundreds million of dollars they poured into the now-defunct exchange. Temasek International, Singapore’s FTX investor, is writing off up to $300 million while Sequoia Capital wrote off the entire $214 million investment. SoftBank
Bloomberg reported that FTX investors, including Sequoia Capital, Temasek and SoftBank, are writing off hundreds million of dollars they poured into the now-failed exchange.
Temasek International, Singapore, is writing off its $300 million FTX investment. Sequoia Capital was able to write down the entire $214 million bet on FTX. SoftBank Group Corp. expects a loss of $100 millions on its investment.
This news comes just days after FTX filed bankruptcy protection. It also comes amid cryptic tweets from former CEO Sam Bankman Fried that he’s trying raise liquidity and make customers whole.
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