- Temasek Holdings cuts compensation for the team that recommended investing in FTX.
- The investment led to a writedown of $275 million for Singapore’s state fund.
- Despite the setback, Temasek continues to focus on investing in early-stage companies and emerging technologies.
It is no secret that FTX’s founder and former CEO, Sam Bankman-Fried, managed to woo many sophisticated investors. These included managers of Singapore’s state fund Temasek, who will now see some accountability for their mistakes.
On Monday, May 29, Temasek Holdings issued a statement revealing a cut in compensation for the team that recommended investing in the now-bankrupt FTX and its senior management team. This decision was made as a form of “collective accountability” for the failed investment.
The Fallout from the FTX Investment
The announcement comes after Temasek conducted an internal review of its investment in…
