Temasek Opens Talks With FTX In the midst of Binance Takeover and FTT Crash
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Summary:
State-backed venture capital fund Temasek entered talks with FTX, the crypto exchange led by Sam Bankman-Fried that is possibly insolvent following recent developments
Temasek was an investor in SBF’s Bahamas-based exchange, per reports.
News about the talks broke shortly after Changpeng Zhao tweeted that Binance will step in to help with the liquidity crunch and consider buying FTX in the process.
Crypto exchange FTX and Temasek have entered talks following a Binance bailout plan announced by Changpeng Zhao, the Strait Times reported on Wednesday.
Temasek operates a venture capital fund backed by the Singaporean government. The government-funded investment firm has deployed capital in several startups including FTX, the crypto exchange so far led by Sam Bankman-Fried.
The nature of the talks between Temasek and the crypto exchange remains unclear at press time. However, the timing of the talks supposedly sparked speculations on crypto Twitter. Some users have surmised that Temasek could offer SBF an alternative bailout plan amid FTT’s crash and uncertainty surrounding Alameda’s balance sheet.
CZ Might Buy FTX After Bank Run On SBF And FTT
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