BlackRock Chief Executive Officer Laurence Fink said there may have been “some misconduct” by now-bankrupt cryptocurrency exchange FTX. Fink remains skeptical of cryptocurrencies so much that according to him “most of them will not be there in the future”.
We recall that BlackRock had invested 24 million dollars in FTX and was certainly not the only global asset manager to believe in the potential of the exchange which could be in debt to over 1 million creditors.
Other investment firms have also invested in FTX such as Temasek Holdings, venture capital fund Tiger Global and Sequoia Capital.
Despite the problems surrounding the cryptocurrency sector and FTX, Fink still said that he believes that the technology behind cryptocurrencies, namely the blockchain, will be very important in the future.