Wong additionally addressed the funding of Singapore’s state-owned funding fund Temasek into FTX, saying that it had precipitated not simply monetary loss but additionally reputational injury. Days after Sam Bankman-Fried’s crypto enterprise filed for chapter safety within the U.S., Temasek introduced it had written off its whole FTX funding of $275 million, which it stated was made after conducting eight months of due diligence. Wong stated that Temasek had initiated an inside overview by an unbiased staff to check and enhance its processes, and to attract classes for the long run.
