Abominable Jedi ︽✵︽Nov 10, 2022
Molly White

the ontario teachers' pension plan is among investors who stand to take a hit from the FTX blowup

https://www.wsj.com/articles/crypto-exchange-ftx-reaches-25-billion-valuation-11634817601

Crypto Exchange FTX Reaches $25 Billion Valuation

Investors in new funding round include Ontario Teachers’ Pension Plan and funds managed by BlackRock

The Wall Street Journal
Nov 10, 2022 at 6:01pmMastodon Twitter Crossposter
Show threadpoxonus Nov 10, 2022
@molly0xfff thats so gross.
Show threadNLAWScametovisitNov 10, 2022
@molly0xfff it know this is unfair and life ruining, but it really is hard to feel bad for anyone who didn't listen to all the people telling them for years and years and years that crypto was an unsustainable scam.
Show threadKevin TuringNov 10, 2022
@molly0xfff Oh gross. It’s gonna be real rough seeing all the people who have been unknowingly dragged into this crash taking the brunt of it.
Show threadScott Selikoff Nov 10, 2022
@molly0xfff why would they throw away hard working teachers money into crypto… the administrators should go to jail
Show threadAdam IerymenkoNov 10, 2022
@molly0xfff Why is a teachers' pension plan invested in crypto? I didn't know this kind of usually ultra-conservative investor was in this space. That's kind of terrifying.
Show threadCarlos Sierra 🌹Nov 10, 2022
@molly0xfff Shit…
Show threadArkenor ☿️Nov 10, 2022
@molly0xfff Whoever decided to invest pensions in crypto should be fired. Also charged, if they can be found to have broken any fiduciary laws.
Show threadRick TalbotNov 10, 2022
@molly0xfff I suspect the loss will be close to a rounding error. They are a behemoth and have investments in just about everything.
Show threadRick TalbotNov 10, 2022
@molly0xfff whether they _should_ be investing in speculative products is a different and important question.
Show threadIngoNov 10, 2022
@molly0xfff Holy crap! Pension funds should be prohibited in investing in crypto exchanges.
Show threadYuki "neige d'aout" Hazuki 膤 ❄️ ​Nov 10, 2022
@molly0xfff They didn't learn from Québec, did they? The Caisse de dépôt du Québec invested in Celsius and we all know what happened
Show threadElfbiterNov 10, 2022
@molly0xfff I think that Pension Plan was also involved with Bre-X scam. They have learned _nothing_
Show threadNiels🛰️Nov 10, 2022
@molly0xfff #notTheOnion just a week ago, the Dutch Heydon of the onion jokes about retirement funds investing in bitcoin to attract young people 
Show threadSteve TorrenteNov 10, 2022
@molly0xfff Reaching Madoff numbers. I guess BalckRock will take care of them tho, right?
Show threadSapphic HazardNov 10, 2022
@molly0xfff The whole idea of investing teacher pensions in crypto is a big giant yikes.
Show threadPeter FrankNov 10, 2022
@molly0xfff I had seen that, in the US that would be illegal (at this point) I suppose in Canada this isn't the case which is sad.
Show threadContingently i-RON-ickNov 10, 2022
@molly0xfff
https://mastodon.social/@molly0xfff/109320817349856328
👆 FTX blowup is a major SNAFU.
Show threadTex MorganNov 11, 2022
@molly0xfff it’s 2008-2009 for a whole new generation.
Show threadgoatNov 11, 2022
@molly0xfff
Here we go again
Show threadJohn Mark  ☑️Nov 12, 2022
@molly0xfff I feel like not enough folks have watched 'Billions'