Temasek cuts pay of employees behind failed $275mn bet on FTX

Singaporean state investor Temasek cut the pay of staff responsible for its failed $275mn investment in FTX, Sam Bankman-Fried’s cryptocurrency exchange that collapsed last year.

Temasek, one of the world’s largest investors, said it was “disappointed” with the investment and the “negative impact on our reputation”, after it was criticised for backing the start-up. The investment constituted 0.09 per cent of its S$403bn (US$298bn) portfolio.