Following an internal review by an independent team, Singapore investment firm Temasek said that it had cut the compensation of its senior management and the investing team involved in the investment in crypto exchange FTX.

The Singapore investor-owner was at pains to stress that this was not due to any misconduct on the part of the investment team which had made the decision on FTX. There has been fraudulent conduct at the crypto exchange which was intentionally hidden from investors, including Temasek. But Temasek still decided that the senior management and investment team should take collective accountability for the reputational damage, said its chairman Lim Boon Heng.