“The financial loss from this investment will have limited impact,” the pension plan said in a release, noting its US$95 million investment in both the troubled Bahamas-based crypto-trading platform and its U.S. arm represents less than 0.05 per cent of its total net assets. (The Logic)

Talking point: Questions have swirled around what due diligence blue-chip investors like Ontario Teachers’ Pension Plan had performed before investing in the company. In its statement, Teachers’ said it worked with both third-party advisors and FTX to conduct “robust” due diligence, noting it was based on company-provided materials and calling reports of potential fraud “deeply concerning.” The statement did not specifically say whether Teachers’ examined FTX’s audited financial statements—a similar release from fellow investor Temasek said that venture capital firm did. Douglas Leone of Sequoia Capital, another big-name FTX investor, said the firm is going to “dream a little less” over the next few months.