TechFlow news — SoftBank has written down its investment in FTX to zero. As one of many firms that backed FTX, SoftBank stated that its "investment in FTX was less than $100 million," representing only a small fraction of its $100 billion Vision Fund, and will not have a material impact on the overall value of the company.
However, many still question why so many prominent investment firms poured significant capital into FTX without conducting thorough due diligence. Marcelo Claure, former COO of SoftBank, said on social media that he was "completely wrong" about FTX, admitting he was driven by FOMO and failed to fully understand what he was investing in.Original link
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