Temasek cuts staff pay over failed FTX investment
Singaporean sovereign wealth fund says investment in FTX has damaged its reputation
Singapore’s sovereign wealth fund Temasek said it had cut pay for senior managers and an investment team over the fund’s investment in the now-bankrupt FTX cryptocurrency exchange.
“Although there was no misconduct by the investment team in reaching their investment recommendation, the investment team and senior management, who are ultimately responsible for investment decisions made, took collective accountability and had their compensation reduced,” Temasek chairman Lim Boon Heng said in a
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