Singapore Government’s Temasek Writes Down $275M Investment in Collapsed Crypto Exchange FTX

Singapore Government’s Temasek Writes Down $275M Investment in Collapsed Crypto Exchange FTX


Singapore government’s Temasek has written down the full value of its $275 million investment in the bankrupt crypto exchange FTX. “Our belief in the actions, judgment, and leadership of Sam Bankman-Fried … would appear to have been misplaced,” Temasek admitted.

Temasek’s Investments in FTX Now Worth $0

The Singapore government’s Temasek Holdings issued a statement regarding its investments in FTX Thursday after the cryptocurrency exchange filed for bankruptcy.

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Temasek is a global investment company headquartered in Singapore with a portfolio valued at $403 billion Singapore dollars (US$294 billion). Temasek was established to own and manage the assets previously held by the Singapore government; the government is the sole equity shareholder of Temasek.

The investment firm explained:

We invested US$210 million for a minority stake of

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