.temasek has reduced compensation for the management and investment team responsible for its failed investment $275 million in ftx_official. thesamreynolds reports.
At the time, Temasek claimed that it did eight months of due diligence on FTX, reviewing its audited financial statements, analyzing regulatory risk, and cyber security threats.
Post-FTX, Temasek said that intends to refine its investment appraisal procedure, especially for rapidly growing firms. Temasek reiterated that it does not plan to invest in cryptocurrencies and said it will be cautious when considering new investments in the blockchain space.During the heydays of FTX it was accessible to users based in Singapore, while Binance, its chief rival, was blocked.
The Monetary Authority of Singapore added Binance to the Investor Alert List in September 2021, yet made no such move on Binance. this was because Binance directly solicited Singaporean customers, and offered trades in Singapore dollar, which was not the case for FTX.
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