Temasek engaging with FTX as Binance bailout plan fuels uncertainty in crypto market

Binance’s plan to bail out the cryptocurrency exchange FTX has sent jitters rippling through the industry. PHOTO: REUTERS
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SINGAPORE - Singapore’s state investor Temasek says it is engaging with FTX in its capacity as a shareholder in the wake of Binance’s plan to bail out the cryptocurrency exchange, which has sent jitters rippling through the industry.

Such a power shift would make Binance reign supreme in the crypto world, and observers told The Straits Times that this could add more uncertainty to the industry, following a spate of insolvencies that has shaken investor confidence and shrunk funding.

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