SINGAPORE, May 29 — Singapore state investment fund Temasek said today it had slashed compensation for the team and senior management responsible for its investment in collapsed cryptocurrency exchange FTX.
Prosecutors allege that then-chief Sam Bankman-Fried cheated investors and misused funds that belonged to FTX and Alameda Research customers.Temasek wrote down US$275 million of investments in FTX and launched an internal review. “With FTX, as alleged by prosecutors and as admitted by key executives at FTX and its affiliates, there was fraudulent conduct intentionally hidden from investors, including Temasek,” the statement said.
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