Temasek tops invested in FTX will now receive smaller rewards

Singapore-based Temasek holding has decided to cut employee compensation. However, this applies to those who have invested about $2375 million in FTX.

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Back in November last year, the holding's employees poured $ 275 million into the crypto exchange. The share of the loss was comparable to 0.09% of the holding's portfolio revenue. This is approximately $298 billion.

According to the documents, the holding conducted an internal audit after it became known about the fall of the cryptocurrency exchange. As a result, the investment team, together with the top management, decided to collectively answer for what they had done. Therefore, their compensation was reduced.

The document also indicates the risks that always accompany investments. Additionally, it is said that it is tedious to continue investing in new industries and developments. This will improve the understanding of business transformation and investment in general.

It should be noted that the specialists of the Ministry of Finance of the country reported that due to the collapse of FTX, the holding suffered damage not only in terms of finances, but also reputation.

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