Singapore government’s Temasek has written down its entire investment in the bankrupt cryptocurrency exchange FTX. crypto
Singapore Government's Temasek Writes Down $275M Investment in Collapsed Crypto Exchange FTX
Our belief in the actions, judgment, and leadership of Sam Bankman-Fried … would appear to have been misplaced,” Temasek admitted.The Singapore government’s Temasek Holdings issued a statement regarding its investments in FTX Thursday after the cryptocurrency exchange filed forTemasek is a global investment company headquartered in Singapore with a portfolio valued at $403 billion Singapore dollars .
Temasek proceeded to explain that “Similar to all investments, we conducted an extensive due diligence process on FTX, which took approximately 8 months from February to October 2021.”
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