Since 1990, the Ontario Teachers Pension Plan has managed hundreds of billions of dollars in assets for nearly 200,000 education workers, holding stakes in traditional investments from airports to shopping centers.
But on Thursday the Canadian pension fund warned in a statement it had suffered a hit from a more alternative gamble: The fund had sunk as much as $75 million into FTX International, the troubled global cryptocurrency exchange, in a financing round last year.
The Canadian pension fund is just one of many entities affected by the unraveling of FTX and Sam Bankman-Fried, its onetime highflying chief executive, who in just a few chaotic days has seen his fortunes dramatically turn. Celebrity endorsers, venture-capital firms and everyday investors are all facing uncertainty in the aftermath.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn