Lim Boon Heng, who is the chairman of the board at Temasek, issued a statement on May 29 saying that he was “disappointed” with the outcome of its investment as well as the negative impact the failed investment had on its reputation.
Temasek Holdings has cut the pay of the investment team and senior management who were “ultimately responsible” for the investment decision made in failed cryptocurrency firm, FTX.
The state investment company had to write off its entire investment of US$275 million in November 2022.
