Bloomberg: Temasek cuts pay for senior executives and the investment team responsible for FTX

2023-05-29 08:11:03

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ChainCatcher news, according to Bloomberg, Singapore's national investment fund Temasek has stated that it will cut the compensation of senior management and the investment team responsible for investing in FTX. Temasek's chairman stated, "As the prosecutors have alleged, and as the main executives of FTX and its affiliates have admitted, there was fraudulent behavior that was deliberately concealed from investors, including Temasek."

According to ChainCatcher previous reports, Temasek has decided to fully write down its investment of approximately $275 million in FTX and FTX US. Singapore's Deputy Prime Minister Lawrence Wong revealed in the country's parliament that Temasek has officially initiated an internal review of FTX-related investments. (source link)

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