Calgary-based Bitvo talks strength of regulations in wake of FTX collapse yyc yycbiz
FTX, based in the Bahamas, fell victim to an unregulated market. Much of FTX’s $14.8 billion in assets had reportedly been invested in its crypto token called FTT. The company’s biggest rival, Binance, sold off its $580-million stake in FTT last week and sparked a selloff by investors.Article content
The Alberta Investment Management Corp. said in an emailed statement that it does not hold any direct investment in FTX or any other cryptocurrency or crypto-related company.“Cryptocurrencies are not an asset class nor an investment that we believe to be a prudent fit for our client’s portfolios,” it said.
When Binance instigated the selloff of FTT, others also attempted to get their money out but the funds largely are not there.
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