Temasek Reaffirms Crypto Stance: No Direct Investments, Still Watching Blockchain Infrastructure
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Temasek Puts Crypto Off the Table, Sets 15% AI Portfolio Target
Temasek Holdings has ruled out direct crypto investments, the Singapore state-owned investment firm said Wednesday, pointing to regulatory uncertainty and the lingering damage from its $275 million write-off following the collapse of FTX in 2022.The firm, which manages S$518 billion (approximately $400 billion) in assets, will instead redirect capital toward artificial intelligence, targeting AI-related holdings of 15% of its portfolio by 2031, …
Temasek Reaffirms Crypto Stance: No Direct Investments, Still Watching Blockchain Infrastructure
The public stance of one of the world’s most watched sovereign wealth funds has shifted only slightly since the FTX collapse: no direct crypto exposure, and no plans to add any. Nagi Hamiyeh, chief investment officer at Temasek, repeated that message this week, according to the original report from CNBC. The Singapore state fund took a roughly $275 million impairment on its FTX investment in 2022, and the lesson it drew appears fixed in place. T…
It may seem difficult to estimate the extent to which the FTX case has harmed the cryptocurrency sector, even several years later. But perhaps the desire to no longer invest in it recently confirmed by the Temasek Fund of Singapore can represent a serious clue about the ever-significant impact of this trauma. The article Still traumatized by FTX, this fund no longer wants to invest in crypto for the moment has appeared first on Cryptoast.
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