Business

Major Japanese investor finds himself caught in another cigarette


SoftBank Group has made some of its latest investments as some of them have proven to be nearly worthless.

One of the largest Japanese investors, Softbank made a bet on crypto by investing $100 million in brokerage firm FTX, which some investors like Sequoia Capital say is worth zero.

SoftBank said on Friday that its investment in bankrupt crypto exchange FTX had minimal impact on the $100 billion Softbank Vision Fund.

FTX, based in the Bahamas, was valued at $32 billion just last year.

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