Singapore’s Temasek ‘Not Comfy’ Investing in Crypto Firms: Right here’s Why

1
153

  • Temasek is reluctant to put money into crypto corporations, citing regulatory uncertainty.
  • The corporate’s CIO, Rohit Sipahimalani, spoke with CNBC as we speak concerning the cryptocurrency market.
  • Temasek additionally posted its worst earnings since 2016 on Tuesday morning.

Temasek Chief Funding Officer Rohit Sipahimalani says now shouldn’t be the best time to put money into crypto corporations.

Why is Sipahimalani avoiding cryptocurrencies?

Bitcoin’s large rise for the reason that starting of the yr has established that cryptocurrencies are right here to remain. The latest submitting of a Spot Bitcoin ETF from BlackRock can be an extra stamp of approval.

Nonetheless, Sipahimalani is reluctant to show his Singapore-based funding agency to cryptocurrency corporations, citing regulatory uncertainty. Talking to CNBC this morning, he stated:

There are various regulatory uncertainties on this setting. Given the present state of affairs, I’m reluctant to put money into exchanges.

The Securities and Trade Fee is at the moment at odds with Ripple, the corporate behind XRP. Viance and Coinbase additionally just lately filed lawsuits for violating U.S. securities legal guidelines.

Temasek was a former FTX investor

Additionally on Tuesday, the state-owned conglomerate stated its annual shareholder return fell 5.07%, the worst stage since 2016, citing macro and geopolitical challenges.

See also  Bitfinex Launches P2P Platform in Venezuela, Argentina and Colombia

Sipahimalani stated Temasek Holdings Restricted is open to investing in cryptocurrency corporations, however solely in a extra favorable setting.

If in case you have the best regulatory framework, we’re snug with it, and there’s a appropriate funding alternative, there isn’t any cause why we should always not think about it.

Observe that Temasek diminished its total funding in FTX to “zero” final November. The online worth of the portfolio on the time of writing is roughly $287 million.

(Tag Translation) Interview

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here