The world's largest asset manager BlackRock invested $24 million in crypto exchange FTX, which recently filed for bankruptcy, the company's CEO Larry Fink has reported.
He has expressed optimism about the prospects for blockchain against the backdrop of the collapse of one of the industry's most prominent players.
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He has said:
"We're going to have to wait to see how this all plays out (with FTX). I mean, right now we can make all the judgment calls and it looks like there were misbehaviors of major consequences. I believe the next generation for markets and next generation for securities will be tokenization of securities."
FTX investors also include Softbank, Ontario Pension Fund, Paradigm, Tiger Global and other well-known companies.
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Venture capital firm Sequoia Capital has also admitted losses of $213.5 million on FTX investments.