Singapore state investor Temasek engaging with FTX as a shareholder: Reuters
Quick Take
- Singapore state investor Temasek is engaging with FTX as a shareholder in the exchange.
Singapore government-owned investment firm Temasek said it's monitoring the situation with crypto exchange FTX, one of its investments, according to Reuters.
"We are aware of the developments between FTX and Binance, and are engaging FTX in our capacity as shareholder," Temasek told Reuters.
Temasek participated in FTX's $1 billion Series B funding round and its $420 million B-1 round in October 2021. It also participated in FTX's $400 million Series C round in January 2022, which saw the exchange valued at $32 billion.
FTX shocked the world of crypto on Tuesday by announcing it would sell its non-U.S. assets to Binance. FTX's FTT token had tumbled after Binance CEO Changpeng Zhao said it would begin selling off its holdings. He cited "recent revelations" for the decision to sell — in a seeming reference to a CoinDesk report that had revealed details of sister firm Alameda Research's balance sheet.
Temasek didn't immediately respond to a request for comment from The Block.
Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.
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