Singapore’s Temasek Holdings on Wednesday announced that crypto remains off limits as the sovereign wealth fund targets lifts AI exposure from 6% to 15% of its portfolio by 2031.
FTX’s Shadow Still Hangs Over Temasek’s Crypto Stance
Temasek President of Global Investments Nagi Hamiyeh told CNBC the firm holds no direct crypto investments and cited regulatory uncertainty as the reason for staying out.
“I can’t forecast what happens in the future, and the role that crypto is going to play in the main economy, depending on the different regulations that might happen,” Hamiyeh said.
The 2022 FTX writedown of $275 million drew sharp public criticism in Singapore, with then-Deputy Prime Minister Lawrence Wong calling the loss disappointing and damaging to the country’s reputation.
