Temasek Holdings has issued a statement on May 2 to deny its involvement in algorithmic currency system Array.
“We have seen news articles and a tweet from Array about Temasek’s investment in it. This news is incorrect. Temasek has not invested in Array and we have no relationship with them,” reads the statement posted by Singapore’s state-owned investor.
One such article was from CoinTelegraph, which stated that Temasek had invested US$10 million ($13.4 million) in Array.
The news was allegedly made by Array on May 1 where the raise was the company’s second round and brought its valuation to US$100 million.
The news came several months after Temasek announced, in November 2022, that it would be writing down over US$200 million that it had put into FTX. The amount was said to be between US$200 million to US$300 million.
