Temasek, Singapore’s state investor, was one of the biggest names to have invested in FTX before it collapsed. It put in around $275 million, which it then wrote down to zero.
Temasek said it had done “extensive due diligence” on FTX and seen an audited financial statement that showed it to be profitable.
Now, after a six-month internal review of what went wrong, the investor said on Monday it reduced the pay of the team who recommended investing in FTX, and for senior management, as part of a move to take “collective accountability” for the investment. Temasek’s chairman said there had been no misconduct by the investment team, but acknowledged the “negative impact” on Temasek’s reputation.
Meanwhile, U.S. presidential hopeful Ron DeSantis spoke in favour of allowing individuals to invest in cryptocurrencies, arguing that the incumbents in Washington “have it out for Bitcoin”.
Here’s exactly what he said:
“You have every right to do Bitcoin. The only reason these people in Washington don’t like it is because they don’t control it. And they’re central planners, and they want to have control over society. And so Bitcoin represents a threat to them… I just do not have an itch to have to control everything that people may be doing in this space. And I think that the current regime clearly they have it out for Bitcoin and if it continues for another four years, you know, they’ll probably end up killing it.”
