Singapore's Temasek engages with FTX in liquidity crunch

Temasek invested in a series of FTX round findings that led to its $32 billion valuation in January.

Singaporean public investment firm Temasek, a shareholder of FTX, is reportedly engaging with the cryptocurrency exchange in the liquidity crunch that led to its unexpected (and still pending) bailout on November 8.< /p>

In comments to Reuters, the sovereign wealth fund said it was "aware of developments between FTX and Binance, and commits FTX in our capacity as a shareholder", avoiding providing further details on the impacts of the change. case on his wallet.

Temasek invested in a series of FTX finds that led to the exchange's $32 billion valuation in January. Ten months later, the Singaporean firm participates in the rescue of the stock market. Temasek participated in FTX's Series B, Series B Extension, and Series C funding rounds, when the exchange raised $1 billion, $420 million, and $400 million, respectively.

Some shareholders learned about the deal via Twitter on Nov. 8. In his letter to shareholders sent later, Sam Bankman-Fried, aka SBF, apologized for being "difficult to contact" in recent days, admitted to having no idea what exactly the Binance deal means, and finally, close the letter saying that he will be "pretty busy" in the next few days, and will write again "when I have time too."

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