Singapore's Temasek Holdings has reaffirmed its exclusion of cryptocurrency from its investment portfolio, four years after the collapse of FTX resulted in a $275 million writedown for the state-owned investor.
Nagi Hamiyeh, president of Temasek Global Investments, stated that crypto remains "still off the table" as the firm continues to navigate the aftermath of the exchange's bankruptcy.
The decision underscores the lasting impact of the 2022 FTX implosion, which drew significant local criticism and forced a strategic recalibration of Temasek's approach to digital assets.
While global institutional adoption of crypto has expanded since the exchange's failure, Temasek has chosen to maintain a cautious stance, prioritizing stability over exposure to the volatile sector.
This policy stands in contrast to the fund's active engagement in other high-growth areas, including artificial intelligence and defense technology.
Temasek has been expanding its footprint in these sectors, reflecting a broader shift toward tangible technological infrastructure and security-related investments.