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Once among the world’s largest cryptocurrency exchanges, FTX is helmed by CEO Sam Bankman-Fried, whose net worth peaked at $26.5 billion last year, before plummeting to less than a billion dollars as the company struggled to raise funding to cover as much as $8 billion in shortfall amid massive withdrawals. The firm filed forlast week, burning at least 20 billionaires and several institutional investors including Temasek and Sequoia Capital.
The big question: where did the 'real' money go? Who has it? Forget 'tokens'.
Well just writing off 275 seems stinky.
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Temasek writes down $275 million investment in FTXTemasek, Singapore's sovereign wealth fund that manages some $300 billion, has written down hundreds of millions of dollars of investment in FTX to zero. I wanna see headlines on vcs getting fired for these bonkers investments
Source: TheBlock__ - 🏆 464. / 53 Read more »
The FTX contagion: Which companies were affected by the FTX collapse?Some of the firms affected include Genesis, Sequoia Capital, Galaxy Digital, and Galois Capital.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Temasek Says Its FTX Investment Is Now Worth ZeroThe Singaporean investment fund said it conducted 8 months of due diligence on FTX in 2021 before buying a 1% stake in the exchange. Temasek FTX_Official thesamreynolds WOW Temasek FTX_Official thesamreynolds Smart move if they recoup anything it will be like winning lottery Temasek FTX_Official thesamreynolds some of the growing exchanges in singapore.
Source: CoinDesk - 🏆 291. / 63 Read more »