Temasek on Thursday said it would write down its entire investment of $275 million (roughly Rs. 2,240 crore) in FTX. Other backers of the fallen crypto exchange such as SoftBank’s Vision Fund and Sequoia Capital have also marked down their investment to zero after its collapse last week
Singapore state investor Temasek Holdings said it would write down the value of its entire investment of $275 million (roughly Rs. 2,240 crore) in collapsed crypto currency exchange FTX, in the latest move by FTX’s investors.
„In view of FTX’s financial position, we have decided to write down our full investment in FTX, irrespective of the outcome of FTX’s bankruptcy protection filing,“ Temasek said in a detailed statement on Thursday.
FTX’s other backers such as SoftBank Group’s Vision Fund and Sequoia Capital have also marked down their investment to zero after FTX, founded by Sam Bankman-Fried, filed for bankruptcy protection in the US last week in the highest-profile crypto blowup to date.
