Temasek Holdings, Singapore’s state-owned holding company owned by the Singapore government, has been implicated in FTX as Binance plans to bail out the cryptocurrency trading company, according to a report published on November 9, 2022. It is said Singapore’s state-owned investors have been known to invest in the cryptocurrency and blockchain industry for quite some time.
Singapore’s state-owned holding company Temasek has helped facilitate FTX’s Series B and C funding rounds, a spokesperson says the company is involved with FTX
By Claire Huang, business correspondent, The Straits Times (TST), Nov. 9, 2022 report A Temasek Holdings spokesperson engaged with FTX. Temasek is a Singapore state-owned holding company established in 1974. As of 2022, Temasek’s assets under management (AUM) will be approximately 403 billion SGD.
“We are aware of the developments between FTX and Binance and are involved with FTX in our capacity as a shareholder,” a spokesperson for Temasek reportedly told Huang. The news follows his CEO of Binance, Changpeng Zhao (CZ). tell the public His company plans to acquire FTX, with details to be announced soon. However, as per CZ’s initial statement, Binance clearly On November 9, it announced that it had officially withdrawn its deal to acquire FTX.
Temasek has been investing in companies related to the cryptocurrency and blockchain industry for the last few years.For example, a government-owned company Lead the Series C round Immutable (Immutable X) has raised $200 million. As far as cryptocurrency exchange FTX is concerned, Temasek’s funding has helped fuel FTX’s Series B and C rounds.
Leveraging Vertex Ventures, Temasek has also invested in Binance, as our TST business correspondent details in her report.Temasek led a funding round Animoca Brands, a blockchain game publisher and Web3 company, partnered with Boyu Capital to back GGV Capital when Animoca Brands raised $110 million in September.
What do you think of the comments reported by a Temasek Holdings spokesperson regarding their involvement with FTX? Let us know what you think about this matter in the comments section below.
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