BlackRock reveals $24 million investment in bankrupt FTX

The BlackRock-managed fund of funds invested $24 million in the through bankruptcy proceedings Bitcoin exchange FTX. This data was shared by the CEO of the largest asset-management firm, Larry Fink, Reuters reports.

The top executive expressed optimism about blockchain prospects in the wake of the collapse of one of the industry’s notable players.

“We’ll have to wait with developing this story [with FTX]. … It appears there were violations that led to serious consequences. Nevertheless, I consider the cryptography underlying cryptocurrencies to be a very important technology. The next generation of markets will be the tokenisation of securities,” he said.

FTX’s investors also include SoftBank, the Ontario Pension Fund, Paradigm, Tiger Global and other well-known firms.

Sequoia Capital acknowledged a loss of $213.5 million on its investments in FTX.

Singapore’s Temasek Holdings wrote off investments in the cryptocurrency exchange and its US arm FTX US (totaling $275 million).

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