In a recent announcement, Temasek Holdings revealed that it has cut compensation for the team responsible for recommending its ill-fated investment in the now-bankrupt FTX cryptocurrency exchange, as well as for its senior management team, highlighting "collective accountability."
State investor Temasek, owned by the Government of Singapore, wrote down its US$275 million investment in FTX (amounting to 0.09% of its US$403 billion portfolio) on November 17. It was the third-largest investor in FTX.
Neil Liew
While it is commendable that Temasek is taking some form of accountability for the failed investment, the lack of transparency surrounding this decision raises significant questions about due diligence, risk assessment, and the overall management of investments in the crypto space.
