SoftBank Might Write Off $100M Loss On Stake Held In Beleaguered FTX Crypto Exchange

Investors and analysts probably have the answer to the question: How much will SoftBank Group Corp SFTBY lose on the crypto exchange FTX.com's meltdown?
SoftBank did not provide details on how much money it put into FTX (FTT/USD) or where it valued the stake in recent quarters.
SoftBank participated in a $900 million series B funding round last year and another $400 million this year, according to statements released by FTX.
Related: Troubled Crypto Exchange FTX Reopens Withdrawals.
SoftBank Group Corp, Bloomberg reported, invested around $100 million in the crypto exchange FTX.com and anticipated writing down the entire value of the stake, citing a person familiar with the matter.
SoftBank had put less than $100 million and had kept the investment marked close to cost rather than boosting the valuation and recording a profit, the person said. SoftBank will likely write down the holding in the December quarter.
One of FTX's primary backers, Sequoia Capital, promptly reassured its investors, saying its exposure was limited and said it wrote down the full value.
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