Veröffentlicht von • Temasek, a sovereign wealth fund owned by the Singapore government, is reportedly not interested in investing in the digital assets industry due to regulatory uncertainties.
• The firm previously invested $275 million in FTX but wrote off the entire stake following the collapse of the crypto firm.
• Temasek also does not have any interest in cryptocurrencies.
Temasek Not Investing In Crypto Industry Due To Regulatory Uncertainties
Temasek, a sovereign wealth fund owned by the Singapore government, is reportedly not interested in putting money into the digital assets industry. According to CNBC reports, this investment firm with a net portfolio worth $496 billion is currently avoiding crypto companies as the nascent industry faces regulatory uncertainties.
FTX Investment Written Off Following Collapse Of Crypto Firm
The firm previously invested $275 million in FTX but wrote off the entire stake following the collapse of the now-bankrupt crypto firm. As Ripple, Coinbase and Binance face charges from the U.S. Securities and Exchange Commission (SEC), Temasek chief investment officer Rohit Sipahimalani says that it would be difficult for them to make another investment given all of these regulatory uncertainties.
No Interest In Cryptocurrencies
Sipahimalani further added that Temsek has no interest in cryptocurrencies either: “We’ve never been looking to invest in cryptocurrencies. Even the investment in FTX, we’ll be talking about investing in an exchange, which allowed us to get fee-based revenue without thinking [of] balance sheet risk or any trading risks.“
Regulatory Framework Needed For Investment Opportunity
He highlighted that for Temsek to consider investing again, there needs to be a suitable regulatory framework and a viable investment opportunity: „If you have the right regulatory framework, and we are comfortable with it, and you have the right investment opportunity, there’s no reason for us to not look at it.“
Conclusion
In conclusion, after writing off its previous $275 million crypto venture due to its bankruptcy filing and considering current regulations facing other major exchanges such as Ripple and Coinbase by SEC, Temsek is still uninterested in investing into cryptocurrency markets until they are able to find an appropriate regulatory framework along with an attractive investment opportunity within it.