Temasek reduces executive pay following $275M FTX investment loss.
Temasek Holdings has reduced compensation for the executives responsible for its $275 million investment in the now-defunct crypto exchange FTX. The investment firm conducted an internal review of the investment loss incurred from FTX and found no misconduct internally. However, both its investment team and senior management took collective accountability and had their compensation reduced. Temasek has stood by its claims that it conducted an extensive due diligence process into FTX before making its investment. The $275 million FTX investment that is now written off was said to be just 0.09% of Temasek’s portfolio value of more than $293 billion at the time of the collapse.
