SoftBank Group Corp. invested just under $100 million in the crypto exchange FTX.com and anticipates writing down the entire value of the stake, according to a person familiar with the matter.

SoftBank had put in a total of less than $100 million and had kept the investment marked close to cost, rather than boosting the valuation and recording a profit, the person said, asking not to be identified because the details are private. SoftBank will likely write down the holding in the December quarter. As FTX Melts, Analysts Race to Calculate SoftBank’s Exposure