Following the bankruptcy of cryptocurrency exchange FTX, a growing number of pension funds and investment firms are revealing that they were directly or indirectly exposed to Sam Bankman-Fried’s crypto empire, resulting in hefty losses for investors in the United States and Canada.
This comes as many of these pension funds and Wall Street firms have been decimated by the stock market meltdown in 2022 exacerbated by the Federal Reserve’s rate-tightening campaign.
The Missouri State Employees’ Retirement System (MOSERS) revealed in its latest updated portfolio estimates that it possessed a minuscule exposure to FTX. Because the pension fund invested in the BlackRock PE Co-Investment 2021 Fund, it had approximately $1.2 million exposed to the bankrupt exchange….