BlackRock had $24M invested in FTX - CEO

Wednesday, 30. November 2022 16:47

BlackRock Inc. CEO Larry Fink said on Wednesday that his company invested $24 million in cryptocurrency exchange FTX, which has since filed for bankruptcy. Despite FTX's collapse, he said that crypto technology will be "very important" in the future, even if most crypto companies "will not be around."

In an interview with the New York Times, Fink said inflation will return to 2%-4% after the current spike is over. However, he also predicted interest rates will stay high despite the drop in prices, projecting a "malaise" in the United States economy.

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Author:
Baha Breaking News (BBN) / DJ