BlackRock had blootstelling aan FTX: CEO Larry Fink
- BlackRock CEO Larry Fink revealed that the asset management firm had invested $24 million in the now bankruptcy crypto exchange FTX and stated that there were several “misbehaviors” at the exchage.
- Fink is van mening dat er donkere dagen in het verschiet liggen voor de huidige wereldeconomie als gevolg van een hoger dan normaal inflatiepercentage, verhoogde rentetarieven en lagere groei, en beperkte ruimte voor fiscale stimulansen.
- The BlackRock executive was present at an event hosted by the New York Times DealBook wherein he stated that in the near future, many crypto firms “are not going to be around.”
BlackRock, the world’s largest asset management firm based in New York City, had invested close to $24 million in the now-disgraced crypto exchange FTX, which was founded and led by Sam Bankman-Fried to the point of bankruptcy last month. The CEO of the asset management firm, Larry Fink, said that there were several “misbehaviors” at the crypto exchange, as per a report from Reuters.
The BlackRock executive stated that because FTX was not operating in a healthy capacity, the technology behind crypto exchange doesn’t become obsolete. He still believes that the future of blockchain technology is bright with many applications that can prove revolutionary for the current financial world, stated the rapport. De directeur verklaarde verder dat zijn bedrijf de $24 miljoen heeft afgeschreven die het in de crypto-uitwisseling had geïnvesteerd.
“We’re going to have to wait to see how this all plays out (with FTX),” the BlackRock CEO said. “I mean, right now we can make all the judgment calls and it looks like there were misbehaviors of major consequences.”
Volgens de rapport, Fink was present at an event hosted by the New York Times DealBook wherein he stated that in the near future, many crypto firms “are not going to be around,” a statement which is similar to what Bankman-Fried stated prior to his exchange’s collaspe earlier this year. SBF believed that many crypto firms were “secretly insolvent” in an interview with Forbes.
BlackRock had bijna $24 miljoen in FTX geïnvesteerd via een miljardairfonds dat het in New York gevestigde bedrijf beheert. Bovendien hebben wereldwijde vermogensbeheerders zoals Temasek Holdings, durfkapitaalfonds Tiger Global en Sequoia Capital allemaal geïnvesteerd in de nu failliete crypto-uitwisseling.
“We are in the business of taking risks. Some investments will surprise to the upside, and some will surprise to the downside. We do not take this responsibility lightly and do extensive research and thorough diligence on every investment we make,” said Sequoia, which was one of the biggest backers of the exchange.
On the other hand, the CEO of BlackRock believes that blockchain technology “will be very important” and also stated that “the next generation for markets and next generation for securities will be tokenization of securities.”
Fink is van mening dat er donkere dagen in het verschiet liggen voor de huidige wereldeconomie als gevolg van een hoger dan normaal inflatiepercentage, verhoogde rentetarieven en lagere groei, en beperkte ruimte voor fiscale stimulansen.
“We’re actually going to enter a period of more what I would call malaise,” he said. “We’re just not going to have an economy that is based on real growth that we were accustomed to.”