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10% of $5 Billion SoftBank Fund is Invested in Crypto-related Assets
Summary: Paulo Passoni, the managing director of SoftBank’s Latin America Fund said approximately 10% of one of the firm’s $5 billion funds is invested in crypto-related assets, which is a strategy he supports even if some tokens are overvalued, according to Bloomberg. “There’s an old saying in investing -- follow the talent -- and the most ...
Paulo Passoni, the managing director of SoftBank’s Latin America Fund said approximately 10% of one of the firm’s $5 billion funds is invested in crypto-related assets, which is a strategy he supports even if some tokens are overvalued, according to Bloomberg.
“There’s an old saying in investing -- follow the talent -- and the most talented people around the globe are going into crypto-related projects,” he added.
The comments highlight SoftBank’s recent emphasis on cryptocurrencies as the Japanese technology conglomerate doubles down on its commitment to Latin America. It also backs 2TM Participacoes SA, owner of the biggest Brazil-based cryptocurrency brokerage, which last month raised $50 million in funding.
By Amy Liu
Tags: Crypto,Fund,Paulo Passoni,Softbank
Link: 10% of $5 Billion SoftBank Fund is Invested in Crypto-related Assets [Copy]
