Forbes reports Temasek having invested US$205 into bankrupted cryptocurrency exchange. According to an exclusive report by Forbes, Temasek Holdings has US$205 million invested into cryptocurrency platform FTX which has filed for bankruptcy in the United States.

FTX Group announced in a statement on Friday (11 Nov) that it filed for US' Chapter 11 bankruptcy proceedings, adding it has begun an “orderly process to review and monetize assets for the benefit of all global stakeholders.”

The filing comes after the world’s biggest cryptocurrency platform Binance agreed to buy its rival earlier this week but backed out, leading market players to consider possible regulator responses.

Forbes' report noted that FTX became a huge draw for venture capitalists eager to get in on the Bitcoin boom as the cryptocurrency exchange grew in size.

The Singapore sovereign wealth fund (SWF) is said to be the second-largest outside investor on the capitalization table, with 7 million shares for its estimated investment sum of US$205 million

It invested in all three of FTX’s major funding rounds — the Series B, Series B extension and Series C, in October last year and early January this year.

With its $320 million stake on the brink of being worthless, a Temasek spokesperson told Reuters on Wednesday that they were “aware of the developments” and were “engaging FTX in our capacity as shareholder."

Following the news of the collapse of the bailout from Binance, Sequoia Capital which is said to have invested an estimated sum of US$200 million, wrote to its partners that it is marking its investment into FTX down to $0.