Singapore’s State Investor Temasek Is Engaging With Embattled Crypto Exchange FTX – According to a report released on November 9, 2022, Temasek Holdings, the Singaporean state holding company, is collaborating with FTX in response to Binance’s intentions to rescue the cryptocurrency exchange. Since quite some time, Singapore’s state investor has been known to have invested in the cryptocurrency and blockchain industries.
The Straits Times (TST) business correspondent Claire Huang reported on November 9, 2022 that a representative from Temasek Holdings has engaged with FTX. Temasek is the state-owned holding company of Singapore, founded in 1974. The expected value of Temasek’s assets under management (AUM) in 2022 is around S$403 billion.
“We are aware of the developments between FTX and Binance, and are engaging FTX in our capacity as a shareholder,” the Temasek spokesperson reportedly told Huang. Binance CEO Changpeng Zhao (CZ) previously informed the public that his business would buy FTX, with specifics to be revealed in the near future. Nonetheless, after CZ’s initial claims, Binance announced on November 9 that it had officially withdrawn from the acquisition of FTX.
Singapore’s State Investor Temasek Is Engaging With Embattled Crypto Exchange FTX – In recent years, Temasek has invested in cryptocurrency and blockchain industry-related companies. For instance, the government-owned company led a Series C round that raised $200 million for Immutable (Immutable X). Regarding the troubled cryptocurrency exchange FTX, Temasek finance contributed to FTX’s Series B and C rounds.
Temasek has invested in Binance through Vertex Ventures, according to the TST business correspondent’s report. In September, Animoca Brands, a blockchain gaming publisher and Web3 company, secured $110 million with the help of Temasek, Boyu Capital, and GGV Capital.
READ MORE
Soros-Backed Argentine Neobank Uala Launches Cryptocurrency Trading Services
Goldman Sachs Launches Data Service to Help Investors Analyze Crypto Markets
7 Startups Join Mastercard Program to Make Cryptocurrency More Accessible
