Singaporean state-backed investor Temasek was one of 69 investors to invest in the FTX crypto exchange’s $420 million funding round in October 2021. The firm had invested $210 million in the global exchange for a minority stake of 1% and another $65 million in its sister company FTX.US. However, the state-backed investor wrote down its entire $275 million investment in the crypto exchange “irrespective of the outcome of FTX’s bankruptcy protection filing.”
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