Temasek Deducts $275 Million From Its Stake in FTX

Temasek, the $300 billion sovereign wealth fund of Singapore, has written off all of its $275 million stake in FTX and FTX US. In FTX International, Temasek had funded $210 million for a 1% interest, while in FTX US, it had spent $65 million for a 1.5% stake. According to a statement released by the fund on November 17, the investments were made throughout two rounds in October 2021 and January 2022, respectively. Our statement on FTX. https://t.co/pok0EfNEwq — Temasek (@Temasek) November 17, 2022 Temasek To Write Off FTX Investment The statement mentioned that in light of FTX’s financial situation, The post Temasek Deducts $275 Million From Its Stake in FTX appeared first on Cryptoknowmics-Crypto News and Media Platform .