• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
Temasek

Singapore’s Temasek Says Its $275 Million FTX Investment Is Now Worth Zero

Christian Encila
by Christian Encila
2 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Temasek, a Singapore-based global investment company possessing a portfolio that is worth $403 billion, is no longer interested in waiting for the outcome of FTX crypto exchange’s Chapter 11 bankruptcy filing.

According to a statement released by the multinational conglomerate, it will “write down” its $275 million investment that is composed of a $210 million minority stake for about 1% of the exchange’s international business and a $65 million minority stake for 1.5% in FTX U.S.

“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 filing,” said the statement of Temasek that was released on Thursday.

The investment company poured in millions for the Sam Bankman-Fried-led platform across two funding rounds that started in October 2020 and ended in January 2022.

Related Reading: Crypto Lender BlockFi Prepares To Go Belly Up Amid FTX Bankruptcy

Crashing During A Last-Ditch Effort

Last Friday, FTX filed for a Chapter 11 Bankruptcy after it earlier announced its plans to lay off some of its workers.

Under this particular chapter of the U.S. Bankruptcy Code, the Temasek-backed FTX crypto exchange platform (now classified as debtor) will be given the chance to implement a reorganization in order to keep its business alive and still have the chance to settle its obligations to its creditors over time.

Image: Ledger Insights

Following this development, there were reports that SBF and a few remaining staff of the imploded company spent the weekend calling potential “white knight” investors in order to raise $8 billion to dig itself out of its gigantic financial hole.

FTX crashed again on this front as the attempt was unsuccessful and its investors are essentially forced now to wait for the result of its bankruptcy filing.

Softbank, another Asian institution based in Japan, already announced it will mark its $100 FTX investment to zero as it already lost hope that the exchange will recover from its current misery.

Temasek Clarifies Its Exposure to FTX

Temasek expressed its dismay over SBF and FTX, saying that their belief in the action, wisdom and judgment of the company and its leadership appeared to have been misplaced.

Image: Bitcoin.com News

Temasek also took the initiative to clarify that its investment in FTX are not placed for cryptocurrencies, saying it has no direct exposure to the digital asset class.

Nonetheless, the culmination of the FTX drama undeniably hurt the crypto market which ended up being poorer by almost $150 billion after Bitcoin and the altcoins experienced severe price dumps, losing all of their gains during the last few weeks.

Image: Bloomberg.com

Before the highly publicized collapse happened, the crypto market was steadily holding the $1 trillion turf in overall valuation. At the time of this writing, its overall market capitalization is $792 billion.

Related Reading: Binance CEO Said To Be Interested In Buying Genesis’ Loans – And Why Not?

Crypto total market cap at $792 billion on the daily chart | Featured image from Living From Trading, Chart: TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

BNB

ChatGPT предвижда BNB да достигне $2,500 тази година. Препоръки за най-добрата криптовалута за покупка

11 minutes ago
Grok's Best Crypto to Buy in Uptober Ahead of ETF Approval

Grok’s Best Crypto to Buy in Uptober Ahead of ETF Approval

24 minutes ago
Crypto ETPs

Crypto ETPs Set To Be Included In UK Tax-Free Accounts And Pension Funds From 2026

43 minutes ago
Центробанк

ЦБ открывает дверь на рынок крипты — но не для всех

54 minutes ago
BTC Dip Could Ignite a $150K Rally Despite Large $363M+ Whale Sell-Off – HYPER Presale Nears $23M to Scale Bitcoin

BTC Dip Could Ignite a $150K Rally Despite Large $363M+ Whale Sell-Off – HYPER Presale Nears $23M to Scale Bitcoin

59 minutes ago
Jupiter Launches $JupUSD Sending Solana Sky-High as $SNORT Soars

Jupiter Launches $JupUSD Sending Solana Sky-High as $SNORT Soars

1 hour ago
Please login to join discussion

Premium Sponsors

Press Releases

  • BNB

    ChatGPT предвижда BNB да достигне $2,500...

    16 minutes ago
  • Maxi Doge นักสู้เหรียญมีมยืนโพสท่าในสังเวียนมวย

    Binance-Peg DOGE นำโด่ง Top 11...

    1 day ago
  • Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s $22M Presale—Plus, Our $HYPER Price Prediction.

    Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s...

    1 day ago
  • ...

    2 days ago
  • Your Chance to Win Up to 10% Deposit Bonus and Up to 21K $USDT Bonus Prizes at KCEX

    Your Chance to Win Up to 10% Deposit Bonus and Up to 21K...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.