Who else trusted FTX?

In Cryptocurrency, Financial competency on 23/11/2022 at 3:28 am

Referring to Why Temasek should not have punted on FTX, let’s give Temasek and Ontario Teachers’ Pension Plan a break?

Even hedgies, the mortals who became masters of the universe because they are uber-cynical, trusted FTX:

Hedge funds have billions stranded on FTX, the collapsed crypto exchange, and may face a years-long wait to recover assets, my colleagues report. The direct exposure of crypto-focused hedge funds to FTX Group and FTT, the exchange’s token, amount to around $2bn. Around 25-40 per cent of specialist crypto hedge funds may have some exposure. Including firms such as Genesis Trading and BlockFi, exposure could be as high as $4bn-5bn. Many had trusted FTX to be among the industry’s most reliable operators. Oops.

FT newsletter

Compared to them Temasek’s executives are GCT’s “mediocrities”

  1. heheh …. doubtful if they’re gonna get anything more than 5% back.

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