Tuesday, February 7, 2023

Swiss pension funds seep away in the FTX swamp

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Writers in the millions

Swiss pension funds seep away in the FTX swamp

Funds from pension funds have also been invested in FTX via a Swiss crypto fund. The fund has to write off CHF 13 million.

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Swiss pension funds have also invested in the FTX crypto platform.

So far, it has looked as if Swiss investors will not be greatly affected by the bankruptcy of the FTX trading platform. Now it turns out that this is not the case for everyone. As the financial portal “Tippinpoint” reports, the FTX bankruptcy is costing a Swiss crypto fund a lot of money. He lost more than a fifth of his fund assets.

The fund concerned is the SwissRex Crypto Fund. The loss amounts to 13 million francs, which were mainly invested in so-called DeFi tokens. This emerges from a letter to the shareholders.

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