Temasek, Singapore’s state-owned investment firm, has denied that it invested in Array, an algorithmic cryptocurrency developer.

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Fast facts

  • “We have seen news articles and a tweet from Array about Temasek’s investment in it. This news is incorrect. Temasek has not invested in Array and we have no relationship with them,” the company said in a statement on Tuesday. 
  • According to news reports on Monday, Array received an investment of US$10 million from Temasek as part of a second funding round. 
  • Temasek has been an active investor in the crypto industry and had led a US$100 million funding round last year for Hong Kong-based blockchain and game venture Animoca Brands. 
  • It also led Amber Group’s US$200 million funding round and NFT startup Immutable’s US$200 million Series C.
  • However, Temasek had to write off US$275 million of its investment in the bankrupt crypto exchange FTX before its collapse.

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