Last year, Temasek Holdings wrote off all of the $275m (£222.8m) it had invested in FTX.
Business reporter
As of March 2022, Temasek was worth more than S$403bn , so the money it had put into the cryptocurrency platform accounted for a small percentage of its investments. "The fact that other leading global institutional investors like BlackRock and Sequoia Capital also invested in FTX does not mitigate this," added Mr Wong, who is also the country's finance minister.
Mr Bankman-Fried, who co-founded FTX in 2019, was one of the most high-profile figures in the cryptocurrency industry, known for his political ties, celebrity endorsements and bailouts of other struggling firms.of stealing billions of dollars from FTX users to pay debts at his other firm, Alameda Research, and to make other investments.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Last of the Summer Wine at 50: Super fans head to HolmfirthSuper fans head to Holmfirth to share memories of Compo, Clegg and Foggy.
Read more »
Hong Kong Soccer Sevens - Newcastle United very good as stroll into last eightHong Kong Soccer Sevens - NUFC make very good start in group stage, as stroll into last eight NUFC
Read more »
The Last of Us multiplayer game has reportedly been scaled back | VGCThe Last of Us multiplayer game has reportedly been scaled back following an internal review at Sony.
Read more »
'Serious concerns' for Wakefield man last seen leaving hospital without wearing shoesConcern is growing for a missing Wakefield man who was last seen leaving hospital without any shoes on.
Read more »
Borussia Dortmund gift Bundesliga title to Bayern Munich as Musiala nets last-gasp winnerBayern Munich made it 11 consecutive Bundesliga titles with the help of an incredible final day Borussia Dortmund collapse. Jamal Musiala’s long-range strike with a minute to play secured a 2…
Read more »
Max Verstappen on pole for Monaco GP with title rival Sergio Perez to start lastMax Verstappen will start on pole for the Monaco Grand Prix 🏁 But it wasn't a perfect day for Red Bull as his teammate and title rival Sergio Perez crashed out in a thrilling qualifying session.
Read more »