SINGAPORE — Singapore state investor Temasek Holdings said on Monday (May 29) it had cut compensation for the team and senior management that recommended its investment in the now-bankrupt FTX cryptocurrency exchange. 'Although there was no misconduct by the investment team in reaching their investment r
SINGAPORE — Singapore state investor Temasek Holdings said on Monday it had cut compensation for the team and senior management that recommended its investment in the now-bankrupt FTX cryptocurrency exchange.
Temasek had said its cost of investment in FTX was 0.09 per cent of its net portfolio value of US$304 billion as of March 31, 2022, and that it currently had no direct exposure to cryptocurrencies. FTX's other backers such as SoftBank Group Corp's Vision Fund and Sequoia Capital had also marked down their investment to zero after FTX, founded by Sam Bankman Fried, filed for bankruptcy protection in the United States last year.
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