The $190 billion Canadian pension fund is “still working through what exactly happened there,” according to its CEO. Source
Ontario Teachers' Pension Plan Won't 'Rush' Into Crypto After FTX Write-Off: FT
Tag: FTX
$190B Ontario pension says no to crypto after FTX investment loss
The Onatario Teachers’ Pension Plan has decided to steer its investment away from cryptocurrencies. The decision comes after the OTPP — which manages over $190 billion in assets — lost the entirety of its $95 million investment in crypto exchange FTX after it went bust in November 2022. OTPP was one of the many backers of the now-bankrupt crypto exchange and had invested twice: Once during the bull market in 2021 and again during exchange’s Series C funding round in early 2022. OTPP chief executive Jo Taylor said in an interview…
Multiple Silvergate lawsuits over alleged FTX ties combined by judge
A California judge has combined three investor lawsuits against defunct crypto bank Silvergate Bank involving the bankrupt crypto exchange FTX. On April 19, United States District Judge Jacqueline Scott Corley of the Northern District of California ruled that the three lawsuits would be consolidated. Each accuses Silvergate of helping to facilitate investor fraud by the collapsed crypto exchange FTX. The three cases were brought against Silvergate by four former investors. They will remain separate from other federal cases against FTX and its founder Sam Bankman-Fried but will be combined by…
Gensler quizzed on ETH and FTX probe
SEC Chair Gary Gensler testified before the House Financial Services Committee as Representative Bill Posey questioned him on the collapse of the crypto exchange FTX in November 2022. Gensler evasive on FTX Congressman Posey took over a conversation about how crypto companies mix different business functions and asked the SEC Chair if he was worried about how FTX worked before it failed. In response, the head of the U.S. SEC said that there were worries about functions like the exchange, broker-dealer, and hedge funds combined. In response, Congressman Posey asked,…
Tribe Capital considers reviving bankrupt crypto exchange FTX: Report
Tribe Capital, the San Francisco-based venture capital firm that previously invested in FTX before its collapse, is exploring the possibility of injecting new capital to revive the bankrupt cryptocurrency exchange, Bloomberg reported on April 18. The venture capital firm is reportedly contemplating leading a $250 million fundraising campaign, anchored by $100 million from itself and its limited partners. According to Bloomberg, sources familiar with the matter say that Tribe co-founder, Arjun Sethi, met with FTX’s Committee of Unsecured Creditors in January to discuss the informal proposal. Bloomberg also reported that…
FTX Reboot Plan Attracts Interest From VC Firm Tribe Capital: Report
Tribe, whose portfolio included FTX ahead of its dramatic collapse in November, is considering leading a $250 million fund raise, with a $100 million commitment from itself, according to the report. A source told Bloomberg that Tribe Capital co-founder Arjun Sethi met with FTX’s official committee of unsecured creditors in January to go over an informal proposal. Source AttractsCapitalFirmFTXInterestPlanRebootReportTribe CryptoX Portal
Payments Firm Nuvei’s Ties With FTX Questioned in Spruce Point Capital Report
Spruce Point also pointed out that Nuvei hired FTX’s former global head of payments, Adam Cole, as a senior vice president. Cole “advised multiple defunct companies with ties to known stock promoters with a list of unsavory allegations,” claimed the report. Source CapitalFirmFTXNuveisPaymentsPointquestionedReportSpruceTies CryptoX Portal
NBA Hall of Famer Shaq Served in FTX Investor Suit – Exchanges Bitcoin News
A law firm representing FTX investors has served former NBA star Shaquille O’Neal in a class-action case against celebrities who endorsed the failed crypto exchange. The lawsuit accuses Shaq, along with other public figures and the platform’s founder, of defrauding people who put money into FTX. Shaquille Served Legal Notice in FTX Lawsuit Outside His Home, Lawyers Say Following multiple attempts in the past months, legal representatives of a group of FTX investors have managed to serve Shaquille O’Neal in a suit against several celebrities who promoted FTX. The latter…
Shaquille O'Neal Finally Served FTX Lawsuit: Lawyers
Legendary Basketballer Shaquille O’Neal has finally been served a class-action lawsuit against FTX founder Sam Bankman-Fried, lawyers of the plaintiffs tweeted on Sunday. Source
FTX victims’ lawyers struggle to serve Shaq
The law firm representing victims affected by the FTX collapse have publicly appealed to NBA superstar Shaquille O’Neal to show “courtesy and honor” by actually accepting their legal complaint after several unsuccessful attempts. In an April 14 tweet, The Moskowitz Law Firm revealed its team have been standing outside O’Neal’s TNT studios in Atlanta “all week” to serve him on behalf of FTX investors – in relation to his previous endorsement of the now-defunct crypto exchange – however, O’Neal’s security guards have reportedly not let them in. It was emphasized…