SINGAPORE: Singapore state investor Temasek on Tuesday (May 2) rejected recent reports it made a US$10 million (S$13 million) investment into algorithmic currency system Array. Temasek released a statement on its website, calling the claims 'fake news'. 'We have seen news articles and
SINGAPORE: Singapore state investor Temasek on Tuesday rejected recent reports it made a US$10 million investment into algorithmic currency system Array."We have seen news articles and a tweet from Array about Temasek’s investment in it. This news is incorrect. Temasek has not invested in Array and we have no relationship with them," said Singapore's state investor.
In a tweet on Monday that has since been taken down, Array thanked Temasek for the investment, adding it was"a huge milestone" for the company. Algorithmic currency system Array's tweet on Monday , which has since been taken down, announced the alleged US$10 million investment by Temasek. Several crypto news and financing websites, including Coin Telegraph and 247WallSt, also reported the announcement.
Array is developing an algorithmic currency system that is meant to be more stable than traditional cryptocurrencies., saying it was committed to remaining"prudent and exercise caution even as we explore opportunities that are aligned with our structural trends, to deliver sustainable returns over the long term for our overall portfolio".
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Temasek refutes claim of US$10m investment into crypto company ArrayThe alleged investment was first reported on Monday by several news outlets. Read more at straitstimes.com.
Read more »
Sheng Siong reports 5.2% lower net profit of $33.4 mil for 1QFY2023The supermarket group attributed the drop to the normalising of consumers’ behaviours after the lifting of Covid-19 restrictions.
Read more »
DBS reports record quarterly earnings of $2.57 bil for 1QFY2023, 43% higher y-o-yThe bank declared an interim dividend of 42 cents for the quarter.
Read more »
Freight train derailed in Russia by 'explosive device'There have been reports of such sabotage throughout Moscow’s more than year-long invasion of Ukraine. Read more at straitstimes.com.
Read more »
Showbiz, fashion elite honour designer Karl Lagerfeld at Met GalaNEW YORK — Fashion's party of the year is finally here — A-listers celebrated the late king of couture, Karl Lagerfeld, at Monday's (May 1) annual Met Gala, strutting up the red carpet in a spectacular array of designs from his storied career.
Read more »
Acer launches new additions to its product lineupAcer's annual announcement covers an array of products stretching across its entire lineup, which now includes lifestyle-oriented products like Acerpure. What's also encouraging is that it has not given up on its more niche offerings like the eco-centric Vero and the SpatialLabs gaming laptops. Here's a quick rundown of what was announced. The new Acer Swift X 16 (SFX16-61G) balances...
Read more »