One of the largest Pension plans in the world situated at Canada the Ontario Teachers' Pension plans has written off the total Investment the have pilled up in the collapsed/bankrupt FTX exchange in their report the suggested it will be treated as potential fraud
imagine investing huge amounts of money into something you dont even understand. 
Topic: Ontario Teacher's Pension Plan accepts their loss - page 2. (Read 277 times)
This issue isn't exclusive to the crypto industry. 401ks and pension plans have been battered by stock losses over the last two years. Even Warren Buffett could be losing money with his current stock investments in known trades. Such as his recent selling of wells fargo to buy citigroup stock.
Inflation also is not having positive effects on retirement and pension plans, despite assurances that it would only be temporary and transitory in nature.
It is not only pension plans on the crypto side which are taking a beating. Its happening everywhere. Everyone's pension and retirement plans are being demolished whether they're denominated in fiat or crypto.
I don't think anyone would argue that the FTX situation is very strange. The number of exchange hacks in 2022 is very strange.
When crypto was first introduced into the finance world there was something called cold wallets which were used to prevent these types of hacks. If we want a legitimate discussion we can pose a question of why crypto finance which was founded upon principles of reliability and durability drifted away from the use of cold wallets as a standard protocol.
Inflation also is not having positive effects on retirement and pension plans, despite assurances that it would only be temporary and transitory in nature.
It is not only pension plans on the crypto side which are taking a beating. Its happening everywhere. Everyone's pension and retirement plans are being demolished whether they're denominated in fiat or crypto.
I don't think anyone would argue that the FTX situation is very strange. The number of exchange hacks in 2022 is very strange.
When crypto was first introduced into the finance world there was something called cold wallets which were used to prevent these types of hacks. If we want a legitimate discussion we can pose a question of why crypto finance which was founded upon principles of reliability and durability drifted away from the use of cold wallets as a standard protocol.
One of the largest Pension plans in the world situated at Canada the Ontario Teachers' Pension plans has written off the total Investment the have pilled up in the collapsed/bankrupt FTX exchange in their report the suggested it will be treated as potential fraud
The pension giants writes off $95 million invested in the bankrupt crypto exchange but expresses their complete disappointment after the affected exchange filled for bankruptcy protection. Their total worth in asset under management (AUM) is over $250 million. The financial loss from the investment will have little or no effect on the plan as reported by the Ontario Teachers'
This is not the first time large large Canadian Pension plan got affected by crypto-related issues.
If there were no reserve funds from Ontario it would have been a lost investment for this retirees and there are other hidden stories of start-up pension plans that invested in crypto through various networks and got either scammed or lost their investment for various reasons. I wish there will be good sensitisation for the aged on how best to save their investment to avoid being a victim of future exchange crash, because this might have some negative image about Bitcoin when brought up to the victims of this plans
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The pension giants writes off $95 million invested in the bankrupt crypto exchange but expresses their complete disappointment after the affected exchange filled for bankruptcy protection. Their total worth in asset under management (AUM) is over $250 million. The financial loss from the investment will have little or no effect on the plan as reported by the Ontario Teachers'
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"The financial loss from this investment will have limited impact on the Plan, given its size relative to our total net assets and our strong financial position," said Ontario Teachers'. "However, we are disappointed with the outcome of this investment, take all losses seriously and will use this experience to further strengthen our approach."
.This is not the first time large large Canadian Pension plan got affected by crypto-related issues.
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This isn't the first time a large Canadian pension fund got caught up in the crypto-related contagion. This past August, Caisse de Depot et Placement du Quebec – with more than $300 billion in AUM – wrote down its entire $150 million investment in failed crypto lender Celsius Network.
If there were no reserve funds from Ontario it would have been a lost investment for this retirees and there are other hidden stories of start-up pension plans that invested in crypto through various networks and got either scammed or lost their investment for various reasons. I wish there will be good sensitisation for the aged on how best to save their investment to avoid being a victim of future exchange crash, because this might have some negative image about Bitcoin when brought up to the victims of this plans
link
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