Report: Singapore’s State Investor Temasek Is Engaging With Embattled Crypto Exchange FTX
According to a report released on Nov. 9, 2022, Temasek Holdings, the Singaporean state holding business owned by the federal government of Singapore is apparently engaging with FTX in the middle of Binance’s strategies to bail out the crypto trading company. Singapore’s state financier has actually been understood to have actually purchased the cryptocurrency and blockchain market for rather a long time now.
Singaporean State Holding Company Temasek Helped Fuel FTX’s Series B and C Funding Rounds, Spokesperson Says Company Is Engaging With FTX
On Nov. 9, 2022, The Straits Times (TST) service reporter Claire Huang reported that a representative from Temasek Holdings has actually been engaging with FTX. Temasek is Singapore’s state-owned holding business that was developed in1974 Temasek’s possessions under management (AUM) since 2022 are approximated to be worth around S$403 billion
” We understand the advancements in between FTX and Binance, and are engaging FTX in our capability as an investor,” the Temasek representative supposedly informed Huang. The news follows Binance CEO Changpeng Zhao (CZ) informing the general public his business would get FTX, with information to be revealed in the future. Following CZ’s preliminary declarations, Binance exposed on Nov. 9 that it has actually formally backed out of the offer to obtain FTX.
Temasek has actually been purchasing cryptocurrency and blockchain industry-related business for the last couple of years. The government-owned company led a Series C round that saw Immutable (Immutable X) raise $200 million. As far as the difficulty crypto exchange FTX is worried, Temasek financing assisted fuel FTX’s Series B and C rounds.
Leveraging Vertex Ventures, Temasek is likewise bought Binance, the TST service reporter information in her report. Temasek led a financing round for the blockchain video gaming publisher and Web3 company Animoca Brands with Boyu Capital, and GGV Capital when Animoca Brands raised $110 million in September.
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Animoca Brands, properties under management, Binance, Binance Bail Out, Blockchain, crypto possessions, crypto options, ftx, FTX Exchange, financing rounds, Government of Singapore, Immutable X, Series B, Series C, Singapore’s state financier, Temasek, Temasek FTX, Temasek FTX investing, Temasek Holdings, Temasek investing
What do you consider the reported remarks from the representative from Temasek Holdings worrying engaging with FTX? Let us understand what you consider this topic in the remarks area listed below.
Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech reporter living in Florida. Redman has actually been an active member of the cryptocurrency neighborhood considering that2011 He wants Bitcoin, open-source code, and decentralized applications. Given That September 2015, Redman has actually composed more than 6,000 posts for Bitcoin.com News about the disruptive procedures emerging today.
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