As FTX Melts, Analysts Race to Calculate SoftBank’s Exposure
Photographer: Kiyoshi Ota/Bloomberg
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How much will SoftBank Group Corp. lose on the spectacular meltdown of crypto exchange FTX.com?
Investors and analysts raced to answer that question Thursday after co-founder Sam Bankman-Fried warned that without a cash injection the company would need to file for bankruptcy. Sequoia Capital, one of FTX’s primary backers, swiftly put out a statement reassuring investors its exposure was limited and saying it wrote down the full value.