The Strategist

Singapore-based Temasek investment fund punishes employees invested in FTX cryptocurrency exchange

05/30/2023 - 03:16

Temasek Holdings, a Singapore investment fund reduced financial pays of employees who were in charge of making investments in the cryptocurrency startup FTX Group, which failed last year.

© 2018
© 2018
Temasek’s internal inquiry determined that the $275 million investment in FTX was not illegal, and did not violate any of the fund's guidelines. 

The business also acknowledges that there are risks associated with any investment. Nevertheless, Temasek stated that the corporation suffered material and reputational harm as a result of the investment. 

The top managers of the fund, whose compensation will ultimately be reduced, worked together with the investment strategy department to decide to invest in FTX.


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