No red flags at FTX despite 8 months of 'extensive due diligence' — Temasek

No red flags at FTX despite 8 months of ‘extensive due diligence’ — Temasek


Singapore’s state-owned investment firm Temasek revealed despite eight months of due diligence in 2021, it didn’t find any significant red flags in FTXs financials before deciding to invest $275 million into the now-bankrupt crypto exchange.

Like many of FTX’s more than one million creditors, the Singapore-based firm has been left blindsided by the collapse of FTX and the ongoing fallout, saying in a Nov. 17 post:

“The thesis for our investment in FTX was to invest in a leading digital asset exchange providing us with protocol agnostic and market neutral exposure to crypto markets with a fee income model and no trading or balance sheet risk.”

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Before the firm decided to invest $210 million for a stake of 1% in FTX International and $65 million for

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