Singapore's temasek has written off its entire investment in ftx_official. thesamreynolds reports.
Thursday morning, Temasek said that the $210 million investment, which accounted for 1% of FTX International, and $65 million for 1.5% of FTX.US, represents 0.09% of the firm's net portfolio value of $293.5 billion .
Temasek said that the failure of its investment in FTX isn't an indictment against cryptocurrencies and blockchain technology, but rather a poor bet on Bankman-Fried.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TSM FTX drops FTXFTX had signed a huge sponsorship deal with TSM.
Read more »
Temasek writes down $275 million investment in FTXTemasek, Singapore's sovereign wealth fund that manages some $300 billion, has written down hundreds of millions of dollars of investment in FTX to zero.
Read more »
Temasek Prepares to Write Off as Much as $300M Invested in FTX: Bloomberg.Temasek is preparing to write off between $200 million and $300 million that it invested in bankrupt crypto exchange FTX_Official earlier this year, according to Bloomberg. By JamieCrawleyCD
Read more »
The Fall of Crypto's Golden Boy - The Journal. - WSJ PodcastsUntil last week, FTX founder Sam Bankman-Fried was the face of crypto. Admirers saw him as an approachable, friendly billionaire eager to deploy his wealth for good. Then his crypto empire imploded, leaving hundreds of thousands of investors’ assets in doubt. WSJ’s Greg Zuckerman profiles the man behind FTX. Further Reading: -How FTX’s Sam Bankman-Fried Went From Crypto Golden Boy to Villain -FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall -Alameda, FTX Executives Are Said to Have Known FTX Was Using Customer Funds -FTX’s Collapse Leaves Employees Sick With Anger Further Listening: -How Crypto Giant FTX Suddenly Imploded
Read more »