The Singapore sovereign wealth fund cited regulatory uncertainty, echoing caution after taking an impairment loss tied to the 2022 collapse of exchange FTX.
Temasek is still not considering crypto investments, with global head of investments Nagi Hamiyeh saying the asset class remains outside the Singapore sovereign wealth fund’s plans because of regulatory uncertainty. The stance follows a $275 million impairment loss the firm took in 2022 after the collapse of exchange FTX, a failure that triggered widespread criticism and became a high-profile example of institutional exposure to crypto market and governance risks.