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Ontario Pension says any loss from FTX investment to have limited impact By Reuters

© Reuters. Representations of cryptocurrencies are seen in front of displayed FTX logo in this illustration taken November 10, 2022. REUTERS/Dado Ruvic/Illustration
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TORONTO (Reuters) – The Ontario Teachers Pension Plan (OTPP) said on Thursday it had invested a total of $95 million to the troubled cryptocurrency exchange FTX and any financial loss from the exposure will have limited impact on the pension plan.

OTPP, Canada’s No. 3 pension fund, said it made the investments in FTX International and FTX U.S. exchange through its Teachers’ Venture Growth fund, representing less than 0.05% of the pension fund’s total net assets, it said.

FTX is scrambling to raise funds investors and rivals as Chief Executive Sam Bankman-Fried urgently seeks to save the cryptocurrency exchange that has been buffeted by a rush of customer withdrawals.

Story Credit: investing.com

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