In a recent letter to employees, CEO of failed crypto exchange FTX Sam Bankman-Fried said he buckled under pressure reluctantly even though he should have known better.
In the highest-profile crypto blowup to date, FTX filed for protection in the United States after traders pulled $6 billion from the platform in three days and rival exchange Binance abandoned a rescue deal
"In view of FTX's financial position, we have decided to write down our full investment in FTX, irrespective of the outcome of FTX's bankruptcy protection filing," Temasek said in a detailed statement on Thursday.