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Temasek Says Its FTX Investment Is Now Worth Zero

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Singapore's temasek has written off its entire investment in ftx_official. thesamreynolds reports.

Thursday morning, Temasek said that the $210 million investment, which accounted for 1% of FTX International, and $65 million for 1.5% of FTX.US, represents 0.09% of the firm's net portfolio value of $293.5 billion .

Temasek said that the failure of its investment in FTX isn't an indictment against cryptocurrencies and blockchain technology, but rather a poor bet on Bankman-Fried.

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Temasek FTX_Official thesamreynolds Huge loss due to FTX!

Temasek FTX_Official thesamreynolds Temasek should just hire me

Temasek FTX_Official thesamreynolds Theyyy don’t want youuu to know thisss

Temasek FTX_Official thesamreynolds So Temasek. Sequoia Capital, Kevin O’Leary investment companies and others did “due diligence” and yet none spotted any red flag. Looks like the due diligence was just a checkbox or routine thing, not a real one. Likely they feared missing the boat, blinding them.

Temasek FTX_Official thesamreynolds

Temasek FTX_Official thesamreynolds some of the growing exchanges in singapore.

Temasek FTX_Official thesamreynolds

Temasek FTX_Official thesamreynolds Smart move if they recoup anything it will be like winning lottery

Temasek FTX_Official thesamreynolds WOW

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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
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