State-owned investment fund Temasek in Singapore could lose $300 million from its investments in cryptocurrency exchange FTX.
According to information reported by Bloomberg, Temasek is preparing to lose between $200 million and $300 million due to the collapse of FTX.
FTX had invested in both FTX and the US arm of the stock market in two different investment series held back-to-back earlier this year. According to the transfer of names who are said to have knowledge about the subject, Temasek is preparing for the scenario of completely losing these investments.
Temasek is among the most popular names that have recently started investing in the crypto money industry. This year, the company also supported Amber Group, one of the market makers in the sector, and the non-fungible token firm Animoca Brands.
It is not known how Temasek’s attitude in the industry will change if he loses $ 300 million due to FTX. At the end of March, the company assets worth $294 billion was leading.