FTX: Singapore state fund Temasek cuts pay after failed investment - BBC News

Last year, Temasek Holdings wrote off all of the $275m (£222.8m) it had invested in FTX.

10 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, FTX's co-founder Sam Bankman-Fried was once nicknamed the "King of Crypto"By Annabelle LiangBusiness reporterSingapore state-owned investment fund Temasek Holdings says it has cut the pay of staff responsible for its investment in cryptocurrency exchange FTX, which collapsed last year.

In November, the fund wrote off all of the $275m (£222.8m) it invested in FTX.

Prosecutors have accused FTX's former chief executive Sam Bankman-Fried of orchestrating an "epic" fraud which may cost investors billions of dollars.

Mr Bankman-Fried has pleaded not guilty to the charges.

"The investment team and senior management, who are ultimately responsible for the investment decisions made, took collective accountability and had their compensation reduced," Temasek said in a statement on Monday.

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