SoftBank 9984 +1.76% Group will write down its stake in the troubled cryptocurrency exchange FTX to zero, a source close to the situation confirmed.
On the SoftBank (ticker: SFTBY) earnings call with reporters Friday morning, SoftBank Chief Financial Officer Yoshimitsu Goto said the company has about $100 million in exposure to FTX. SoftBank’s actual investment was a little less than $100 million, the source clarified, and accounted for less than 0.4% of the crypto company’s equity. .