
Temasek Cuts Pay After $275 Million Loss on FTX Investment
Singapore state investor Temasek Holdings has cut compensation for the team that recommended investing in the now-bankrupt FTX cryptocurrency exchange. The move comes after Temasek conducted an internal review of its investment in FTX, which resulted in a writedown of $275 million. FTX, once valued at $32 billion, filed for bankruptcy protection in the United States in November. Other investors, including SoftBank and Sequoia Capital, declared their investment zero following the bankruptcy filing. Temasek’s Chairman, Lim Boon Heng, expressed disappointment over the investment outcome and its negative impact on Temasek’s reputation. “Although there was no misconduct by the investment team