Business reporter
As of March 2022, Temasek was worth more than S$403bn , so the money it had put into the cryptocurrency platform accounted for a small percentage of its investments. "The fact that other leading global institutional investors like BlackRock and Sequoia Capital also invested in FTX does not mitigate this," added Mr Wong, who is also the country's finance minister.
Mr Bankman-Fried, who co-founded FTX in 2019, was one of the most high-profile figures in the cryptocurrency industry, known for his political ties, celebrity endorsements and bailouts of other struggling firms.of stealing billions of dollars from FTX users to pay debts at his other firm, Alameda Research, and to make other investments.
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