Singapore’s Temasek invests $275 million in FTX

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Singapore’s Temasek invests $275 million in FTX

Temasek made a $210 million USD investment in FTX International, granting it a 1% minority stake. Additionally, between October 2021 and January 2022, it invested $65 million for a 1.5% minority stake in FTX US over the course of two funding rounds. The company reported that the total cost of its investment was 0.09% of its $403 billion SGD ($293 billion USD) net portfolio value.

Temasek was clear to state that its investment in FTX was not a cryptocurrency investment. To be clear, it said, “We do not currently have any direct exposure to cryptocurrencies.” Instead, it chose to support FTX because it was a “leading digital asset exchange providing us with protocol agnostic and market neutral exposure to crypto markets with a fee income model and no trading or balance risk sheet.”

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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Temasek made a $210 million USD investment in FTX International, granting it a 1% minority stake. Additionally, between October 2021 and January 2022, it invested $65 million for a 1.5% minority stake in FTX US over the course of two funding rounds. The company reported that the total cost of its investment was 0.09% of its $403 billion SGD ($293 billion USD) net portfolio value.

Temasek was clear to state that its investment in FTX was not a cryptocurrency investment. To be clear, it said, “We do not currently have any direct exposure to cryptocurrencies.” Instead, it chose to support FTX because it was a “leading digital asset exchange providing us with protocol agnostic and market neutral exposure to crypto markets with a fee income model and no trading or balance risk sheet.”

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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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