Tag "FTX"
Temasek to Slash Compensation of Team That Greenlit FTX Investment
Singapore’s sovereign wealth fund Temasek said that it will slash the compensation of the investment team and senior management involved in greenlighting the US$275 million funding in now-bankrupt crypto exchange FTX. Temasek’s chairman Lim Boon Heng said in a statement
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Seven Biggest Fintech Frauds of Recent Years: Who Got Caught?
It’s been a tough year for the fintech and crypto industry, and it has been under fire for various reasons. Among other pressures, perhaps the single most damaging aspect to come out of this year has been widespread suspicious activity
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Crypto Lessons From 2022 The Industry Should Avoid in 2023
As any crypto industry observer surely knows, 2022 was one of the most turbulent years since Bitcoin hit mainstream notoriety and digital asset markets became a sphere of interest for fintech companies and private investors alike. The early part of
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DPM Lawrence Wong Says FTX Investment Caused Reputational Damage to Temasek
Temasek’s US$275 million investment in now-bankrupt crypto exchange FTX has not only caused financial loss but also reputational damage to the Singapore’s state-owned investor said Lawrence Wong, Deputy Prime Minister (DPM) and Minister for Finance, and Deputy Chairman of MAS
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MAS Explains Why Binance Was Pinned on Investor Alert List but Not FTX
The Monetary Authority of Singapore (MAS) did not place the now-collapsed crypto exchange FTX on its Investor Alert List as it had no evidence that the latter was soliciting Singapore users specifically. In a statement addressing some questions and misconceptions
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Temasek Latest to Write Down US$275 Million Investment to Zero in FTX
Singapore’s state-owned investor Temasek announced that it has decided to write down its full investment in collapsed cryptocurrency exchange FTX, irrespective of the outcome of its bankruptcy protection filing. Temasek had invested US$210 million for a minority stake of ~1%
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The FTX Collapse: Sam Bankman-Fried’s Dramatic Fall From Grace
In a dramatic turn of events, FTX filed for bankruptcy protection in the United States, with CEO and founder Sam Bankman-Fried resigning from his role. This was after Binance pulled the plug on its acquisition of FTX in a remarkable
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Binance CEO Warns of “Cascading Effects” of FTX at Indonesia’s Fintech Summit
The fall of FTX last week will have “cascading effects” on the broader cryptocurrency industry with more companies possibly going belly up in the coming weeks, Changpeng Zhao (CZ), CEO and co-founder of Binance, warned during a recent industry event
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Temasek-Backed Crypto Firm FTX Bags US$420 Million at Valuation of US$25 Billion
FTX Trading, owner and operator of global cryptocurrency exchange FTX.COM, announced the closing of a US$420.7 million Series B-1 fundraise, increasing its valuation to US$25 billion. The round saw the participation of 69 investors, including Ontario Teachers’ Pension Plan Board,
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