Singapore's Temasek is still bullish on the crypto industry despite losing $275 million to FTX.
Singapore's government-owned investment firm Temasek continues investing in cryptocurrency projects even after losing hundreds of millions of dollars to the collapsed FTX crypto exchange.
The new Temasek-backed algorithmic currency system aims to provide a more “stable, efficient and scalable” asset than traditional cryptocurrencies like Bitcoin . The system is expected to have a variety of use cases, including payments, remittances as well as investments. “In order to ensure the value of the token remains stable and predictable for investors and traders indefinitely, a traditional bonding curve is implemented manually,” the Array team
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