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.
(Reporting by Divya Rajagopal)