News Temasek of Singapore Examines $275 MNL FTX-Related Loss
Temasek had invested around $275 million in FTX, which it has decided to write off after the exchange's spectacular collapse.
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Temasek had invested around $275 million in FTX, which it has decided to write off after the exchange's spectacular collapse.

FTX's demise was rapid and severe. The crypto exchange, which began as a skunk-work project within Sam Bankman's quant-driven Fried's trading firm, Alameda Research, went from being one of the most used and valuable crypto companies ever to a pile of lost bets and worthless tokens in just eight days earlier this month.

Tuesday, lawyers and officials for the now-defunct cryptocurrency platform FTX went to court and said that an investigation is still going on into the assets that the company's founder and former CEO, Sam Bankman-Fried, once owned.

At least five cryptocurrency exchanges told their customers today that the Solana network has stopped all deposits and withdrawals of Tether's USDT and Circle's USDC.

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