FTX was a high\u002Dflyer in the crypto world before its spectacular fall this week. Read more.
“While there is uncertainty about the future of FTX, any financial loss on this investment will have limited impact on the Plan,” the statement said.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way.
On Thursday, Teachers said its first investment totalled US$75 million in both FTX International and its U.S. entity called FTX.US. In January 2022, a follow-on investment of US$20 million in FTX.US. Earlier this week, the crypto exchange faced a liquidity crunch and was going to be bought by larger rival Binance Holdings Ltd. However, that non-binding offer to purchase was called off late Wednesday.
In a tweet, Binance said it would not move forward to purchase FTX as a result of “corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations.”Article content As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of
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