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Temasek Cuts Pay of Crypto Exchange FTX Staff Amid Fraud Scandal

Temasek Cuts Pay of Crypto Exchange FTX Staff Amid Fraud Scandal

Temasek, a state-owned investment fund in Singapore, has cut the pay of staff responsible for its investment in cryptocurrency exchange FTX, which collapsed last year.
The fund wrote off $275m invested in FTX in November, and prosecutors have accused the former CEO, Sam Bankman-Fried, of orchestrating an "epic" fraud that may cost investors billions of dollars.

Mr. Bankman-Fried has pleaded not guilty to the charges, and Temasek said the investment team and senior management had taken collective accountability and had their compensation reduced.

The fund did not indicate how much salaries were reduced by.
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Channel Tragedy: Three Dead in Record Year for Perilous Crossings
Jimmy Carter: The Legacy of America's Centennial Statesman
Record Tragedy in the Channel: Three Dead and 2024 Becomes Deadliest Year for Sea Crossings
Operation Beepers: A Remarkable Triumph of Israeli Intelligence Against Hezbollah
Rail Unions Keep the UK in a Chokehold: The Battle Over Power and Pay
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