Temasek, which manages nearly $300 billion worth of assets, cut the salary of the staff responsible for the FTX investment, which deteriorated after FTX’s bankruptcy.
According to Temasek’s May 29 statement, an independent team conducted an internal review of the investment and although there were no abuses by the investment team, the team and senior management took collective responsibility and accepted cuts in their salaries. However, no details were given about the amount to be cut.
Temasek: FTX Investment Disappointed
Temasek, FTX and FTX US It had invested $275 million in . Temasek, as part of its investments FTX Internationaland 1.5 percent in FTX U.S.
Temasek said in a statement last year that he spent about eight months doing a thorough due diligence on FTX and was disappointed with the outcome of his investment. Regarding FTX, the Singapore state-owned investment firm stated that fraudulent behavior was involved.
US federal prosecutors Bankman-Fried‘s FTX client funds Alameda Research accused of using it to support. Bankman-Fried has denied all charges and awaits trial in October. If found guilty, Bankman-Fried is likely to spend the rest of his life in prison.
From the close circle of Bankman-Fried Nishad SinghGary WangAnd Caroline EllisonThey have already pleaded guilty and are expected to testify against Bankman-Fried in court.
