{"id":70213,"date":"2022-11-17T12:09:25","date_gmt":"2022-11-17T10:09:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70213"},"modified":"2025-09-08T00:46:58","modified_gmt":"2025-09-07T21:46:58","slug":"singapores-temasek-holdings-writes-off-275-million-in-ftx-investments","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/singapores-temasek-holdings-writes-off-275-million-in-ftx-investments\/","title":{"rendered":"Singapore&#8217;s Temasek Holdings writes off $275 million in FTX investments"},"content":{"rendered":"<p>Singapore&#8217;s Temasek Holdings wrote off investments in the cryptocurrency exchange FTX and its U.S. subsidiary FTX US. The group recorded total losses of $275 million.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Our statement on FTX. <a href=\\\"https:\/\/t.co\/pok0EfNEwq\\\">https:\/\/t.co\/pok0EfNEwq<\/a><\/p>\n<p>\u2014 Temasek (@Temasek) <a href=\\\"https:\/\/twitter.com\/Temasek\/status\/1593031720957538307?ref_src=twsrc%5Etfw\\\">November 17, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;Given FTX&#8217;s financial position, we decided to write off all our investments in the company, regardless of the <a href=\"https:\/\/forklog.com\/en\/news\/ftx-bahamas-unit-seeks-chapter-15-bankruptcy-protection-in-the-united-states\">bankruptcy protection<\/a> ruling,\\&#8221; the statement said.<\/p>\n<\/blockquote>\n<p>According to the press release, Temasek contributed $210 million to FTX International and $65 million to FTX US. Its stakes in the holding structures were described as minority \u2014 1% and 1.5% respectively. The investments were made in two rounds of financing between October 2021 and January 2022.<\/p>\n<p>The value of Temasek&#8217;s investments in the FTX business accounts for 0.09% of the portfolio&#8217;s net worth, which as of March 31, 2022 was estimated at around $298 billion.<\/p>\n<p>In July 2021, the group joined an industry-record Series B round for the exchange worth $900 million and increased it to $1 billion.<\/p>\n<p>In October, FTX closed a Series B-1 funding round for $420.69 million, after which its valuation reached $25 billion.<\/p>\n<p>In January 2022, the exchange founded by Sam Bankman-Fried announced raising $400 million as part of a Series C funding round. The business valuation reached $32 billion.<\/p>\n<p>In the same month, the American subsidiary closed a Series A funding round of $400 million at a valuation of $8 billion.<\/p>\n<p>Temasek Holdings also participated in the last three deals.<\/p>\n<p>Earlier, Sequoia Capital acknowledged a loss of $213.5 million on its FTX investments.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore&#8217;s Temasek Holdings wrote off investments in the FTX cryptocurrency exchange and its U.S. subsidiary FTX US. The group recorded total losses of $275 million.<\/p>\n","protected":false},"author":1,"featured_media":70214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1236,2175],"class_list":["post-70213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx","tag-temasek"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=70213"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70213\/revisions"}],"predecessor-version":[{"id":70215,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70213\/revisions\/70215"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/70214"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=70213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=70213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=70213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}