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SoftBank Is Said to Expect About $100 Million Loss on FTX Stake

Bloomberg business news
SoftBank Is Said to Expect About $100 Million Loss on FTX Stake

SoftBank Group Corp. invested just under $100 million in the crypto exchange FTX.com and anticipates writing down the entire value of the stake, according to a person familiar with the matter. 

The Japanese company’s exposure to FTX has been the subject of much debate in recent days after co-founder Sam Bankman-Fried warned that without a cash injection the company would need to file for bankruptcy.