Huge Japanese Investor Finds Itself Caught In One other Debacle

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SoftBank Group has struck out on a number of its newest investments since a number of of them have proved to be practically nugatory.

One of many largest Japanese traders, Softbank made a guess on cryptocurrency by investing $100 million into brokerage FTX, which some traders reminiscent of Sequoia Capital mentioned is value zero.

SoftBank mentioned on Friday that its funding into bankrupt crypto trade FTX has a minimal influence in its $100 billion Softbank Imaginative and prescient Fund.

FTX, primarily based within the Bahamas, was valued at $32 billion solely final yr.



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