{"id":508312,"date":"2022-11-09T21:30:00","date_gmt":"2022-11-09T18:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/singapores-temasek-engages-with-ftx-in-liquidity-crisis\/"},"modified":"2022-11-09T21:30:00","modified_gmt":"2022-11-09T18:30:00","slug":"singapores-temasek-engages-with-ftx-in-liquidity-crisis","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/singapores-temasek-engages-with-ftx-in-liquidity-crisis\/","title":{"rendered":"# Singapore&#8217;s Temasek engages with FTX in liquidity crisis"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f9cd7a2767\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f9cd7a2767\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/singapores-temasek-engages-with-ftx-in-liquidity-crisis\/#%E2%80%9D_Singapores_Temasek_engages_with_FTX_in_liquidity_crisis_%E2%80%9C\" >&#8221; Singapore&#8217;s Temasek engages with FTX in liquidity crisis &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Singapores_Temasek_engages_with_FTX_in_liquidity_crisis_%E2%80%9C\"><\/span>&#8221; Singapore&#8217;s Temasek engages with FTX in liquidity crisis &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNGI0N2I2ZjMtN2Y2OS00MzU1LWFiOTgtMTYxMThiYzI2ZjUwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>Singapore\u2019s state-owned investment firm Temasek, a shareholder at FTX, is reportedly engaging with the cryptocurrency exchange in the liquidity crisis that led to its unexpected (and still pending) bail out on Nov 8.<\/p>\n<p>In comments to Reuters, the sovereign wealth fund <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/fintech-crypto-ftx-binance\/update-1-cryptos-attempt-to-steady-as-binance-ftx-deal-chills-market-idUSL4N3250VC\">said<\/a> it was &#8220;aware of the developments between FTX and Binance, and are engaging FTX in our capacity as shareholder,&#8221; avoiding providing further details about the case impacts on its portfolio. <\/p>\n<p>Temasek invested in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of FTX&#8217;s round findings that led to the exchange&#8217;s $32 billion valuation in January. Ten months later, the Singaporean firm is taking part in rescuing the exchange. Temasek participated in FTX&#8217;s Series B, Series B extension, and Series C funding rounds, when the exchange raised US$1 billion, US$420 million and US$400, respectively.<\/p>\n<p>Some shareholders learned about the agreement, via <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on Nov. 8. In his letter to shareholders sent later on, Sam Bankman-Fried, aka SBF, apologized for being &#8220;hard to contact&#8221; in the past days, acknowledged he has no idea what exactly the agreement with Binance means, and lastly, close the letter saying he will be &#8220;quite swamped&#8221; in the coming days, and will write again &#8220;when I have time too.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">SBF letter to investors released: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/NcZAb03zLb\">pic.twitter.com\/NcZAb03zLb<\/a><\/p>\n<p>\u2014 Will Clemente (@WClementeIII) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1590107340317294593?ref_src=twsrc%5Etfw\">November 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>FTX was backed by other big players in the venture capital scene, including Sequoia Capital, BlackRock, SoftBank, Ontario Teachers\u2019 Pension Plan, Paradigm, Circle, Ribbit Capital, Alan Howard, Tiger Global, and Multicoin Capital.<\/p>\n<p>As reported by Cointelegraph, some of the largest crypto companies are being urged to be transparent about risks they are exposed to following the liquidity crisis that fell over FTX and trading firm Alameda Research.<\/p>\n<p>Tether chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer Paolo Ardoino<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1590170667646795776\"> clarified<\/a> in a tweet that the stablecoin issuer has no exposure to either of the distressed firms. Similarly, Circle CEO Jeremy Allaire also<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jerallaire\/status\/1590232993133518850\"> denied<\/a> rumors of the firm having exposure to FTX and Alameda. Brian Armstrong, the CEO of crypto exchange Coinbase, also took this opportunity to<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/brian_armstrong\/status\/1590088711471271936\"> assure<\/a> its users that the firm has no material exposure to FTX or FTT. <\/p>\n<p>As the FTX and Alameda crisis unfolded, Binance CEO Changpeng Zhao promised to implement a way to provide full transparency of the exchange&#8217;s reserves by using a Proof-of-Reserve mechanism using Merkle Trees.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/singapore-s-temasek-engages-with-ftx-in-liquidity-crisis\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Singapore&#8217;s Temasek engages with FTX in liquidity crisis &#8220; Singapore\u2019s state-owned investment firm Temasek, a shareholder at FTX, is reportedly engaging with the cryptocurrency exchange in the liquidity crisis that led to its unexpected (and still pending) bail out on Nov 8. In comments to Reuters, the sovereign wealth fund said it was &#8220;aware&#8230;<\/p>\n","protected":false},"author":1,"featured_media":508313,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNGI0N2I2ZjMtN2Y2OS00MzU1LWFiOTgtMTYxMThiYzI2ZjUwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75014,135234,117,73711,5012],"class_list":["post-508312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-binance","tag-ftx","tag-business","tag-investments","tag-singapore"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=508312"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/508313"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=508312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=508312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=508312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}