Temasek, Sequoia, SoftBank take more the $600 million in FTX write-downs: Bloomberg

MarketsNovember 16, 2022, 8:55AM EST
UPDATED: November 16, 2022, 9:02AM EST
Temasek, Sequoia, SoftBank take more the $600 million in FTX write-downs: Bloomberg

Quick Take

  • The three firms invested hundreds of millions of dollars in FTX.
  • All are taking write-downs on their investments, Bloomberg reported. 
Advertisement

FTX investors including Temasek, Sequoia Capital and SoftBank are writing off hundreds of millions of dollars they poured in the now-failed exchanged, Bloomberg reported, citing people familiar. 

Singapore's Temasek International is writing off its up to $300 million FTX investment, while Sequoia Capital wrote down the full value of its $214 million bet on the exchange. SoftBank Group Corp. is expecting a loss of $100 million on its investment.  

The news comes days after FTX filed for bankruptcy protection and amid a series of cryptic tweets by former CEO Sam Bankman-Fried that he's trying to raise liquidity and make customers whole.