CPPI, Canada’s largest pension fund pulls out of crypto investment

Share post:

Following a series of high-profile crypto exchange collapses over the past year, CPP Investments, Canada’s largest pension fund, has given up on researching potential investment opportunities in cryptocurrencies.

The reasons for CPPI’s decision to abandon crypto research were not immediately clear. CPPI declined to comment but stated that it has not made any direct investments in cryptocurrency. The timing coincides with a number of major setbacks in the virtual currency space, including the collapse of crypto lender Celsius earlier this year and the bankruptcy filing of crypto exchange FTX last month. CPP Investments has so far declined to comment on the development, but has stated that despite researching the sector, it has not made any crypto investments.

This means that CPPI, which manages C529 billion (US$388 billion) for nearly 20 million Canadians, avoided investing in the now-bankrupt FTX.

CPPI’s move also coincides with the write-off of investments by two of Canada’s largest pension funds following the collapse of crypto exchange FTX and crypto lender Celsius this year. Because the information was not public, the sources declined to be identified.

The sources for this piece include an article in Reuters.

Featured Tech Jobs

SUBSCRIBE NOW

Related articles

Lawsuit requires Pegasus spyware to provide code used to spy on WhatsApp users

NSO Group, the developer behind the sophisticated Pegasus spyware, has been ordered by a US court to provide...

OpenAI claims New York Times manipulated ChatGPT “fabricate data”

OpenAI has challenged the New York Times' copyright lawsuit, asserting the newspaper manipulated ChatGPT to fabricate evidence. The...

Wendy’s leverages digital tech to test “surge pricing”

Wendy's is set to experiment with Uber-like surge pricing, a concept referred to as "dynamic pricing," starting in...

Meta is gathering data on Quest virtual reality users

Meta's latest policy update reveals plans to start collecting "anonymized" data from its Quest headset users, intensifying concerns...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways