Temasek Holdings (TEM.UL), a Singapore-based state investor, announced on Monday that it has reduced remuneration for the team that proposed its investment in the now-defunct FTX bitcoin exchange, as well as its top management team.
Temasek started an internal examination of its stake in FTX six months ago, which resulted in a $275 million writedown.
“Although there was no misconduct by the investment team in reaching their investment recommendation, the investment team and senior management, who are ultimately responsible for investment decisions made, took collective accountability and had their compensation reduced,” Temasek Chairman Lim Boon Heng said on Monday in a statement posted on Temasek’s website.
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