The software and investment firm didn't immediately respond to a request for comment from Seeking Alpha.O'Neal was widely expected to announce his resignation as early as. Softbank ( OTCPK:SFTBY) has kept the investment in FTX marked near cost, rather than recording a higher value that would register a profit on the books, the person told Bloomberg. The larger-than-expected writedown prompted a 2.3 billion loss in the quarter and a downgrade of the firm's credit rating. Now FTX's Sam Bankman-Fried says the company will have to file for bankruptcy if it can't raise capital to cover a $8B shortfall. Last year was an eye-opener for marijuana stock investors. The mid-2021 round valued FTX Trading at $18B, and attracted capital from Sequoia Capital, Thoma Bravo, Third Point, and Coinbase ( COIN). Aurora's writedown may open the floodgates for other cannabis stocks to take impairment charges. The Japanese company had invested in FTX's series A and series B financing rounds.SoftBank Group ( OTCPK:SFTBY) ( OTCPK:SFTBF) ( OTCPK:SOBKY) had invested just under $100M in FTX.com and expects to write off the full value of it stake in the now beleaguered cryptocurrency exchange, Bloomberg reported, citing a person familiar with the matter.
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