Singapore state fund Temasek, which invested in the bankrupt cryptocurrency exchange FTX in November 2022, has announced that it is not currently considering investing in crypto companies.
Speaking to CNBC, Temasek Chief Investment Officer Rohit Sipahimalani said they will not invest in crypto companies due to the current regulatory uncertainties.
“There is a lot of regulatory uncertainty in the current environment.
I think it's very difficult for us to make another investment amid all this regulatory uncertainty.
In this context, it doesn't seem logical for us to invest in any cryptocurrency company or stock market, given the current state of affairs.”
Stating that they will consider investing in crypto companies when the right regulatory framework arrives, Sipahimalani added that Temasek never intends to invest in any cryptocurrency.
“As Temasek, we never wanted to invest in any cryptocurrencies.
While investing in the bankrupt FTX, we had no intention of investing in a cryptocurrency. We invested in the stock market at FTX. We were going to profit on transaction fees on this investment, but things didn't go as we expected.”
Temasek invested $275 million in FTX before FTX went bankrupt.
*Not investment advice.