Claire Huang, a business writer for The Straits Times (TST), reported that a Temasek Holdings spokesperson had been speaking with FTX as of Nov. 9, 2022.
Founded in 1974, Singapore’s state-owned holding firm Temasek’s assets under management (AUM) are expected to be valued around S$403 billion as of 2022.
The spokesperson told Huang that they are “aware of the developments between FTX and Binance, and are engaging FTX in (their) capacity as a shareholder.”
The news comes after Binance CEO Changpeng “CZ” Zhao publicly stated that his business would purchase FTX, with details to be revealed soon. But after CZ’s first remarks, Binance disclosed on Nov. 9 that it has formally withdrawn from the acquisition of FTX.
For the past few years, Temasek has made investments in businesses that are involved in the cryptocurrency and blockchain industries. For instance, Immutable (Immutable X) raised $200 million in a Series C financing that was headed by the government-owned company. Temasek finance provided support for the struggling cryptocurrency exchange FTX’s Series B and C rounds.
According to the TST business correspondent’s report, Temasek has investments in Binance through Vertex Ventures. When blockchain gaming publisher and Web3 company Animoca Brands raised $110 million in September, Temasek served as the round’s lead investor along with Boyu Capital and GGV Capital.
