$190 billionOntario Teachers Pension Plan, a fund ( OTPP), after losing $95 million in FTX moved away from the crypto industry.
a Canadian-based teacher’s pension fund OTTP has given up on evaluating $190 billion worth of assets in the crypto sector. Before OTTP, on FTX 95 million dollars had reset its investment. After this incident, the fund management’s perspective on cryptocurrencies changed.
After receiving feedback from its members after the reset in FTX, OTTP decided to move away from the crypto industry. Currently, OTTP evaluates its investments in real estate.
190 Billion Dollars of Fund Withdrawn from the Sector
Canada-based Ontario Teachers Pension Plan ( OTPP), with a $190 billion wealth fund, approximately 330 thousand teachers and provides pensions to school staff. Evaluating fund assets in investments through its members OTTP, after the money losses in the FTX crisis He decided to move away from the crypto industry.
Commenting on the subject OTPPCEO jo Taylor, “We are still working on exactly what happened there and you will be careful.”said. Taylorstated that they took such a decision in the light of the feedback from their members. 190 billionThe manager of the dollar asset said that after the opinions of its members, they will not be in a rush to invest in another cryptocurrency.
FTXstating that they are not adequately informed about the processes Taylor, “It didn’t turn out the way we thought it would.” said. Moreover Taylor, underlined that they learned a lesson after their crypto investments.
OTTPfund continues to operate its assets in real estate, which it sees as a more cautious investment tool.
