Caixin
Nov 18, 2022 04:46 AM
FINANCE

Singapore’s Temasek Writes Down $275 Million FTX Investment

Temasek invested $210 million in FTX International and $65 million in FTX US across two funding rounds from October 2021 to January this year
Temasek invested $210 million in FTX International and $65 million in FTX US across two funding rounds from October 2021 to January this year

(Bloomberg) — Singapore’s state-owned investor, Temasek Holdings Pte., is writing down its entire $275 million investment in cryptocurrency exchange FTX, saying its belief in FTX founder Sam Bankman-Fried was probably “misplaced.”

Temasek invested $210 million in FTX International and $65 million in FTX US across two funding rounds from October 2021 to January this year, the company said in a statement. That made up a tiny fraction of its net portfolio value of S$403 billion ($294 billion) as of March. The company currently has no direct exposure in cryptocurrencies, it said.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code