What are FTX's investors saying?
The Hindu
Following the collapse of FTX, formerly one of the world's largest crypto exchanges, is now seeking new funding. But what do its current crop of investors say?
FTX, formerly one of the world's largest crypto exchanges, is seeking new funding after a rush of customer withdrawals left it on the brink of collapse.
Regulators froze some assets of the digital currency exchange and industry peers are trying to limit losses, while former FTX Chief Executive Sam Bankman-Fried is coming under scrutiny.
Founded in 2019, FTX expanded rapidly and was valued at $32 billion in January 2022 during a fundraising exercise.
Here's what investors in FTX are saying now:
The total investment of SoftBank Group Corp's Vision Fund in the U.S. and international operations of FTX is less than $100 million, a source close to SoftBank said on Friday.
SoftBank is marking down its FTX investments to zero, the source said. The complications at FTX are the latest difficulty for the Vision Fund, hit in recent quarters by a global tech rout.
Sequoia Capital said on Wednesday it would mark down its total investments in FTX to $0.
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