World’s largest asset manager BlackRock had made an investment of $24 million in FTX, and as it collapsed CEO Larry Fink, CEO of considers it a loss. Larry Fink further said, “the investment was small and not part of Blackrock’s core business” in an interview organized on November 30 with New York Times columnist Andrew Sorkin.
After Larry Fink’s statement, Sorkin said “the majority of the large firms like Blackrock and Sequoia Capital had invested in FTX, and they all lost”.
Furthermore, Sorkin continued by asking about Fink’s opinion on the current situation, Fink replied with, he didn’t think nobody was “minding the stores.” “If you look at the Sequoias of the world,” Fink said, “they’ve had unbelievable returns over a long period of time. I’m sure they did the due diligence.”
Moreover, Fink admits that Sequoia may have been misled during its due diligence. Fink said “Could they [Sequoias of the world] have been misled? Could they have done other things? Have we been misled in the small little investment we did? Sure. But until we have more facts of it, I will not speculate.”
Also read: Sequoia Capital Marks Down its Investment in FTX to $0
