In keeping with a report printed on Nov. 9, 2022, Temasek Holdings, the Singaporean state holding firm owned by the federal government of Singapore is allegedly participating with FTX amid Binance’s plans to bail out the crypto buying and selling agency. Singapore’s state investor has been identified to have invested within the cryptocurrency and blockchain {industry} for fairly a while now.
Singaporean State Holding Firm Temasek Helped Gas FTX’s Sequence B and C Funding Rounds, Spokesperson Says Firm Is Partaking With FTX
On Nov. 9, 2022, The Straits Instances (TST) enterprise correspondent Claire Huang reported {that a} spokesperson from Temasek Holdings has been participating with FTX. Temasek is Singapore’s state-owned holding firm that was established in 1974. Temasek’s belongings beneath administration (AUM) as of 2022 are estimated to be price round S$403 billion.
“We’re conscious of the developments between FTX and Binance, and are participating FTX in our capability as a shareholder,” the Temasek spokesperson reportedly instructed Huang. The information follows Binance CEO Changpeng Zhao (CZ) telling the general public his firm would purchase FTX, with particulars to be introduced within the close to future. Nevertheless, following CZ’s preliminary statements, Binance revealed on Nov. 9 that it has formally backed out of the deal to accumulate FTX.
Temasek has been investing in cryptocurrency and blockchain industry-related corporations for the previous few years. As an illustration, the government-owned agency led a Sequence C spherical that noticed Immutable (Immutable X) elevate $200 million. So far as the difficulty crypto alternate FTX is anxious, Temasek funding helped gas FTX’s Sequence B and C rounds.
Leveraging Vertex Ventures, Temasek can be invested in Binance, the TST enterprise correspondent particulars in her report. Temasek led a funding spherical for the blockchain gaming writer and Web3 agency Animoca Manufacturers with Boyu Capital, and GGV Capital when Animoca Manufacturers raised $110 million in September.
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