cryptojournalist
Financial Impact on Temasek
Following its investment in FTX, Temasek, a state-owned investment firm, faced backlash over its financial loss. However, this loss represented only 0.09% of Temasek’s substantial $293 billion in assets under management, so its impact on the firm’s overall portfolio remained minimal.
Class Action Lawsuit Against Key Venture Capital Firms
In August 2023, Temasek and other major venture capital firms like Sequoia Capital and Softbank became defendants in a class action lawsuit tied to their investments in FTX. Plaintiffs in the case claim these firms “aided and abetted” fraud at the exchange, sparking further scrutiny of their role in FTX’s collapse.
