Share this article

BlackRock CEO Larry Fink Says Firm Invested $24M in FTX: Reuters

The executive said it appears there were "misbehaviors" at FTX.

Updated May 9, 2023, 4:03 a.m. Published Nov 30, 2022, 4:03 p.m.

BlackRock CEO Larry Fink said Wednesday that the asset-management giant invested $24 million in FTX before the crypto exchange collapsed, according to Reuters.

Speaking at the New York Times Dealbook conference, Fink also said it looked like there were misbehaviors in FTX, but wouldn't speculate on whether BlackRock and venture-capital firm Sequoia, which had invested $214 million in FTX and has since marked that amount down to zero, were misled by FTX, Reuters reported.

STORY CONTINUES BELOW

Don't miss another story.Subscribe to the Crypto Long & Short Newsletter today. See all newsletters

By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

FTX owes its top 50 creditors more than $3 billion and has an estimated 1 million creditors in total. The firm filed for bankruptcy protection earlier this month after it unraveled in a series of events that was triggered by a CoinDesk article about the balance sheet of Alameda Research, a trading firm affiliated with FTX.

Read more: The FTX Downfall: Full Coverage

BlackRock FTX FTX Collapse Larry Fink

Nelson Wang

Nelson edits features and opinion stories and was previously CoinDesk’s U.S. News Editor for the East Coast. He has also been an editor at Unchained and DL News, and prior to working at CoinDesk, he was the technology stocks editor and consumer stocks editor at TheStreet. He has also held editing positions at Yahoo.com and Condé Nast Portfolio’s website, and was the content director for aMedia, an Asian American media company. Nelson grew up on Long Island, New York and went to Harvard College, earning a degree in Social Studies. He holds BTC, ETH and SOL above CoinDesk’s disclosure threshold of $1,000.