Investment in FTX fails, losing face, Temasek announces investment team and related executives' salary cuts.

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Temasek: No Evidence of Wrongdoing

Temasek has stated that although the investment team did not find any wrongdoing, the team and relevant executives still take shared responsibility and have had their salaries reduced.

According to a report by Bloomberg, Temasek Chairman Lim Boon Heng, following an internal review, stated in a release on Monday:

As prosecutors allege and as important executives of FTX and its related subsidiaries have admitted, FTX engaged in deliberate deception of investors, including Temasek. We are disappointed in the investment outcome for Temasek, which has had a negative impact on our reputation.

Temasek promptly wrote down its $275 million investment in FTX last year after the incident, regardless of the eventual outcome of the bankruptcy.

At that time, Temasek emphasized that it had conducted a thorough due diligence on FTX and reviewed FTX's audited financial statements, which showed profitability.

FTX Shows Signs of Recovery

Since FTX's bankruptcy, the possibility of a restart has been a topic of discussion in various circles, and recent records of FTX's restructured team CEO John Ray show multiple discussions and reviews of matters related to FTX's restart.

This undoubtedly rekindles hope for the numerous retail creditor.

FTX Restart Plan Update: CEO John Ray Confirms FTX 2.0 Plan, FTT Rises by 14%