TechFlow news, May 29 — Temasek Holdings, Singapore's sovereign wealth fund, published on its official website a statement titled "Statement by the Chairman of Temasek on Internal Review of FTX Investment," announcing that senior management and investment teams responsible for the FTX investment will face salary reductions.
The statement said, "FTX engaged in fraudulent activities and deliberately concealed information from investors, including Temasek. We are disappointed and regretful about the outcome of this investment and its negative impact on our reputation. Although the investment team did not act improperly during the process of formulating the investment recommendation, both the investment team and the senior management accountable for the investment decision bear collective responsibility, and as such, their compensation has been reduced."
