CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

$190B Ontario pension says no to crypto after FTX investment loss

21.04.2023
A A
0
124
VIEWS
ShareShare

The Onatario Teachers’ Pension Plan has decided to steer its investment away from cryptocurrencies.

The decision comes after the OTPP — which manages over $190 billion in assets — lost the entirety of its $95 million investment in crypto exchange FTX after it went bust in November 2022.

OTPP was one of the many backers of the now-bankrupt crypto exchange and had invested twice: Once during the bull market in 2021 and again during exchange’s Series C funding round in early 2022.

OTPP chief executive Jo Taylor said in an interview with the Financial Times that it’d be unwise for the pension fund to rush into another crypto investment. Taylor said that they are still processing what happened with the exchange, and they would be much more cautious before investing in emerging assets like digital currencies. The pension fund is responsible for offering pensions to over 330,000 teachers and school workers.

“We took our time and did a lot of due diligence on the business. It didn’t turn out the way we thought. We weren’t necessarily shown all the information we needed to know to make a balanced decision.”

The pension fund is now looking to direct its investment toward more traditional markets, such as real estate, and is aiming to gain exposure to the private credit sector. The investment plan provider is looking to invest 10 billion Canadian dollars ($7.4 billion) over the next three years to build its portfolio in the aforementioned domains.

Related: Virginia county wants to put pension funds into DeFi yield farming

Apart from OTPP, the Caisse de dépôt et placement du Québec (CDPQ), another prominent pension fund, lost its entire investment of $154.7 million in thetroubled cryptocurrency lender Celsius Network. Celsius was one among many crypto lenders that went under during the crypto contagion in the second quarter of 2022.

The dramatic collapse of FTX, at the time the third-largest crypto exchange, had a drastic impact on the entire ecosystem. The confidence of investors and venture capitalists in the crypto ecosystem reached a low point while crypto funding dried up. It also flipped the crypto ecosystem’s narrative on mass adoption and attracted regulatory scrutiny from around the world.

Magazine: Green consumers want supply chain transparency via blockchain

Share10Tweet6ShareSharePin2

Related Posts

Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift
Blockchain

Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift

04.07.2025
0

Skip to content

Read moreDetails
Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

03.07.2025
Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

03.07.2025
Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

30.06.2025
Web3 Security: GoPlus Unveils Crucial Clarification on Venus Protocol $2M Theft

Web3 Security: GoPlus Unveils Crucial Clarification on Venus Protocol $2M Theft

25.06.2025
Load More
Next Post
DogeDay Arrives With an Announcement Ahead!

DogeDay Arrives With an Announcement Ahead!

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Maple Finance launches pool for US Treasury yields

Maple Finance launches pool for US Treasury yields

2 years ago
Stoner Cats NFT Floor Price Surges After U.S SEC Action

Stoner Cats NFT Floor Price Surges After U.S SEC Action

2 years ago
Opinion: A Pardon for SBF Would Ship a Harmful Message

Opinion: A Pardon for SBF Would Ship a Harmful Message

5 months ago
Bitcoin SV Sees Major Inflows – Could This Be the Start of a Year-End Rally?

Bitcoin SV Sees Major Inflows – Could This Be the Start of a Year-End Rally?

8 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

Bitcoin Price Prediction: ‘Rich Dad Poor Dad’ Kiyosaki Hopes for a Massive Crash – What is Smart Money Expecting?

Bitcoin Price: Unveiling Four Crucial Trends Shaping BTC This Week

Mercado Bitcoin to Tokenize $200 Million in Financial Assets on XRP Ledger

Why Is Crypto Up Today? – July 7, 2025

Trending

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?
All news

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

07.07.2025
0

The BONK-powered memecoin launchpad, LetsBONK, continues to demonstrate its value proposition for both Solana and the broader...

Canaan’s Astounding 1,484 BTC Holdings: A Bitcoin Mining Powerhouse Emerges

Canaan’s Astounding 1,484 BTC Holdings: A Bitcoin Mining Powerhouse Emerges

07.07.2025
Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?

Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?

07.07.2025
Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

07.07.2025
Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

07.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz