... [+]
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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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 »