Opinion: Why FTX collapse might be the end of the beginning for crypto

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AsianInvestor 4 mo ago

Opinion: Why FTX collapse might be the end of the beginning for crypto - AsianInvestor

Quick Summary:

While investors like the Ontario Teacher’s Pension Plan and Temasek write off their investments in FTX, the recent downfall of centralised crypto exchanges may actually serve as the purge the industry needs.

Singapore’s sovereign investor Temasak has since written off an investment of $210 million for a minority stake of around 1% in FTX International, and a $65 million investment for a minority stake of around 1.5% in FTX US.

FTX, which was once valued at $32 billion, has since seen it assets frozen, its enigmatic CEO Sam Bankman Fried resign, and the exchange file for bankruptcy.