{"id":139993,"date":"2023-05-29T09:37:40","date_gmt":"2023-05-29T09:37:40","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=139993"},"modified":"2023-05-29T12:00:06","modified_gmt":"2023-05-29T12:00:06","slug":"temasek-slashes-senior-staff-compensation-over-failed-257m-ftx-investment","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/temasek-slashes-senior-staff-compensation-over-failed-257m-ftx-investment\/","title":{"rendered":"Temasek Slashes Senior Staff Compensation Over Failed $257M FTX Investment"},"content":{"rendered":"
Singapore investment firm Temasek Holdings has cut the compensation of its senior management and the investment team following a staggering\u00a0<\/span>$275 million investment loss incurred after the collapse of Sam Bankman-Fried’s FTX<\/a>.<\/strong><\/p>\n It seems the wealth manager has started taking accountability for the reputational damage following the investment loss. On May 29, as per an official press release<\/a>, Temasek chairman Lim Boon Heng said\u00a0 that an independent finding revealed that there was \u201cno misconduct\u201d<\/em> internally, it was reported that both its investment team and senior management took \u201ccollective accountability,\u201d<\/em> <\/strong>and had their compensation reduced.\u00a0<\/em>He added the company felt letdown with the outcome of the investment<\/a>, as well as the negative impact on its reputation, without disclosing the amount of compensation cut.<\/p>\n Singapore's Temasek cuts pay for staff responsible for FTX investment https:\/\/t.co\/1QQCWSlyjQ<\/a> pic.twitter.com\/SA0x1VBdQl<\/a><\/p>\n — Reuters (@Reuters) May 28, 2023<\/a><\/p><\/blockquote>\n\n