$190B Ontario pension says no to crypto after FTX investment loss
The pension fund had invested twice in the now-bankrupt crypto exchange, once during the peak of the bull run in 2021 and again in early 2022. 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 with the Financial Times that it’d be unwise for the pension fund to rush into another crypto investment . Taylor said that they are still processing what happened with the exchange, and they would be much more cautious before invest ing in emerging assets like digital currencies. The pension fund is responsible f...