Singapore's state investment fund Temasek is preparing to write off between $200 million and $300 million, which it invested in bankrupt crypto exchange FTX, Bloomberg reported Wednesday.
It remains to be seen to what extent having to write off $200 million to 300 million on the back of FTX's dramatic collapse will damp Temasek's appetite for the digital-assets industry. Temasek managed $294 billion in assets as of the end of March, according to Bloomberg.
FTX went from being one of the largest crypto exchanges in the world to filing for bankruptcy in little over a week after irregularities in the balance of sheet of its sister firm Alameda Research came to light following a CoinDesk report on Nov. 2.
Temasek didn't immediately respond to a request for comment.
Read more: The Long Arm of FTX
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