1 year ago
BlackRock‘s CEO Larry Fink revealed that the plus manager had invested $24 cardinal successful FTX, which it considers lost.
Fink added that the concern was tiny and not portion of Blackrock’s halfway business. Fink confirmed the nonaccomplishment connected Nov. 30 during an interrogation with New York Times columnist Andrew Sorkin.
BlackRock was misled?
After Fink’s confirmation, Sorkin mentioned that the bulk of the ample firms similar Blackrock and Sequoia Capital had invested successful FTX, and they each lost.
“It appears similar cipher was minding the store.”
Sorkin said and asked astir Fink’s sentiment connected the matter.
Fink said that helium didn’t deliberation cipher was “minding the stores.” “If you look astatine the Sequoias of the world,” Fink said, “they’ve had unbelievable returns implicit a agelong play of time. I’m definite they did the owed diligence.”
However, Fink besides acknowledged that Sequoia whitethorn person been misled during its owed diligence. He said:
“Could they [Sequoias of the world] person been misled? Could they person done different things? Have we been misled successful the tiny small concern we did? Sure. But until we person much facts of it, I volition not speculate.”
Sequoia Capital revealed that it invested $200 cardinal successful FTX, and marked its concern down to zero connected Nov. 10,
The station BlackRock mislaid $24M successful FTX collapse appeared archetypal connected CryptoSlate.
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