Investor Losses From FTX’s Implosion Are Growing

Investor Losses From FTX’s Implosion Are Growing
The breadth of the global fallout from FTX’s collapse has continued to emerge. Temasek, Singapore’s state-backed fund, said on Thursday that it had fully written down its $275 million investment in the crypto exchange, joining the Silicon Valley firm Sequoia Capital and SoftBank, the Japanese tech conglomerate, in declaring their stakes worthless.

The development comes as Sam Bankman-Fried, FTX’s founder, delivered a series of bombshell admissions in a candid direct-message exchange with Vox’s Kelsey Piper. Among them: S.B.F., as Mr. Bankman-Fried is known, blamed “messy accounting” for the company’s losses, which could run into the billions.

https://dnyuz.com/2022/11/17/investor-losses-from-ftxs-implosion-are-growing/

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