Singapore's Deputy Prime Minister: Temasek has initiated an internal review regarding the FTX incident

2022-11-30 14:28:29

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ChainCatcher news, according to channelnewsasia, Singapore's Deputy Prime Minister Lawrence Wong revealed in the country's parliament that Temasek has officially initiated an internal review following the announcement of a write-down of up to $275 million on its FTX investment. This review will be conducted by an independent team, aimed at "studying and improving its processes and learning lessons for the future." The team will report directly to the board, marking an "upgrade" to Temasek's regular review procedures.

Lawrence Wong admitted that what happened with FTX not only caused financial losses for Temasek but also damaged its reputation. Temasek recognizes this and has issued a comprehensive statement explaining its due diligence process and the circumstances that led to its investment in FTX. (source link)

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