Singapore state-owned investor Temasek involved in troubled crypto exchange FTX – Bitcoin News
Temasek Holdings, Singapore’s state-owned holding company owned by the Singapore government, has been implicated in FTX as Binance plans to bail out the cryptocurrency trading company, according to a report published on November 9, 2022. It is said Singapore’s state-owned investors have been known to invest in the cryptocurrency and blockchain industry for quite some time.
Singapore’s state-owned holding company Temasek has helped facilitate FTX’s Series B and C funding rounds, a spokesperson says the company is involved with FTX
On November 9, 2022, The Straits Times (TST) business correspondent Claire Huang reported that a Temasek Holdings spokesperson was involved in FTX. Temasek is a Singapore state-owned holding company established in 1974. Temasek’s Assets Under Management (AUM) as of 2022 is estimated to be worth around S$403 billion.
“We are aware of the developments between FTX and Binance and are involved with FTX in our capacity as a shareholder,” a spokesperson for Temasek reportedly told Huang. The news comes after his CEO of Binance, Changpeng Zhao (CZ), has publicly said his company will acquire his FTX, with more details coming soon. is. However, following CZ’s initial statement, Binance revealed on his November 9th that it had officially withdrawn from the deal to acquire FTX.
Temasek has been investing in companies related to the cryptocurrency and blockchain industry for the last few years. For example, a government-owned company led a Series C round, with Immutable (Immutable X) raising his $200 million. As far as cryptocurrency exchange FTX is concerned, Temasek’s funding has helped fuel his FTX’s Series B and C rounds.
Leveraging Vertex Ventures, Temasek has also invested in Binance, as our TST business correspondent details in her report. Temasek led a funding round for blockchain her game publisher and her Web3 company Animoca Brands, along with Boyu Capital and her GGV Capital, which announced that Animoca Brands would raise her $110 million in September procured.
What do you think of the comments reported by a Temasek Holdings spokesperson regarding their involvement with FTX? Let us know what you think about this matter in the comments section below.
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Singapore state-owned investor Temasek involved in troubled crypto exchange FTX – Bitcoin News
Source link Singapore state-owned investor Temasek involved in troubled crypto exchange FTX – Bitcoin News
