Temasek Rules Out Direct Crypto Investments After $275 Million FTX Write-Down

Singapore sovereign wealth fund Temasek Holdings has ruled out direct investments in cryptocurrencies, maintaining its cautious stance on the digital asset sector after suffering a $275 million impairment from its investment in the collapsed crypto exchange FTX in 2022.

Temasek Chief Investment Officer Nagi Hamiyeh said the fund currently has no direct cryptocurrency holdings, citing regulatory uncertainty as a key factor keeping digital assets outside its investment scope.

Despite avoiding direct exposure to cryptocurrencies, Temasek said it will continue to track developments in blockchain technology and related infrastructure, focusing on their potential applications across the broader economy.

Source: CNBC