Report: Singapore’s State Investor Temasek Is Engaging With Embattled Crypto Exchange FTX

According to a study published connected Nov. 9, 2022, Temasek Holdings, the Singaporean authorities holding institution owned by the authorities of Singapore is allegedly engaging with FTX amid Binance’s plans to bail retired the crypto trading firm. Singapore’s authorities capitalist has been known to person invested successful the cryptocurrency and blockchain manufacture for rather immoderate clip now.

Singaporean State Holding Company Temasek Helped Fuel FTX’s Series B and C Funding Rounds, Spokesperson Says Company Is Engaging With FTX

On Nov. 9, 2022, The Straits Times (TST) concern analogous Claire Huang reported that a spokesperson from Temasek Holdings has been engaging with FTX. Temasek is Singapore’s state-owned holding institution that was established successful 1974. Temasek’s assets nether absorption (AUM) arsenic of 2022 are estimated to beryllium worthy astir S$403 billion.

“We are alert of the developments betwixt FTX and Binance, and are engaging FTX successful our capableness arsenic a shareholder,” the Temasek spokesperson reportedly told Huang. The quality follows Binance CEO Changpeng Zhao (CZ) telling the public his institution would get FTX, with details to beryllium announced successful the adjacent future. However, pursuing CZ’s archetypal statements, Binance revealed connected Nov. 9 that it has officially backed retired of the woody to get FTX.

Temasek has been investing successful cryptocurrency and blockchain industry-related companies for the past fewer years. For instance, the government-owned steadfast led a Series C round that saw Immutable (Immutable X) rise $200 million. As acold arsenic the occupation crypto speech FTX is concerned, Temasek backing helped substance FTX’s Series B and C rounds.

Leveraging Vertex Ventures, Temasek is besides invested successful Binance, the TST concern analogous details successful her report. Temasek led a backing round for the blockchain gaming steadfast and Web3 steadfast Animoca Brands with Boyu Capital, and GGV Capital erstwhile Animoca Brands raised $110 cardinal successful September.

What bash you deliberation astir the reported comments from the spokesperson from Temasek Holdings concerning engaging with FTX? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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