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Originally Posted by Wormius
Doesn’t seem too unusual to have a mix of some high risk-potentially high reward exposure - hopefully they were heavily invested.
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Yeah, fair enough, and they went in on the round with other good firms. Considering the whole round was only $420M they probably were only in it for a very small percent of their portfolio. Just my gut reaction to seeing that news when teachers in Ontario took so much #### throughout covid and dealing with Ford/Flecce prior to them going on strike recently.
From September
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“In terms of the risk profile, it is probably the lowest risk profile you can have in that it’s everybody else is trading on your platform,” OTPP CEO Jo Taylor told Reuters last week.
He added that business is performing well and declined to comment on the size of OTPP’s investment or the equity stake.
Founded in 2019 by 30-year old billionaire Sam Bankman-Fried, FTX Trading was valued at $25 billion in the last funding round.
Taylor’s comments follow Caisse de dépôt et placement du Quebec’s August announcement that it was writing off its entire $150 million investment in crypto lender Celsius Network after the company filed for bankruptcy this year.
Taylor said the investment in FTX Trading is part of its strategy to learn about the crypto business and whether it gives the right balance of risks and returns.
“I don’t think we have the answer to that question yet,” Taylor said
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https://www.reuters.com/article/cana...-idCAL1N30F1M1