Temasek Holdings Lost US$275M on FTX Collapse

https://www.channelnewsasia.com/singapore/ftx-cryptocurrency-exchange-temasek-write-down-investment-275-million-3079086

Wow, even Temasek Holdings also kena burned, but US$275M peanuts la, not their money anyway, but might as well give every Singaporean better, better than throw into a blackhole, still want to increase GST and public transport fares, power sia, I wonder what the leadership of Temasek Holdings have to say to Singaporeans, or nothing to say.

Anyway after the collapse, everybody started to dig out all the dirt on Sam Bankman-Fried and his partners in crime, even I also curious who the heck this guy is, to be honest I have never even hear his speech or anything, went to google his interviews, he sounds like a gin na, a bit like Donald Duck, cannot imagine how this gin na managed to convince all the big names to invest in his ponzi scheme, names like BlackRock.

Knn, back in May I still thought of signing up for an FTX account, but lucky didn't sign up because I can't see any solid use case for their FTT token, and their on/off ramp seems not easy for Singapore users, and something just isn't quite right, I mean back in May all the markets are down, companies cutting back on spending, and yet FTX is going around spending money, good thing I stayed away.

A bit more on FTT token, it does not even power any blockchain, for example Ethereum's ETH is the native token of the Ethereum blockchain, ETH is used to pay for gas fees, you can think of ETH as the fuel of Ethereum blockchain, Binance's BNB is the same but for BNB Chain, Polygon's MATIC for Polygon blockchain, Crypto.com's CRO for CRONOS and Crypto.org blockchains, only thing I see for FTT is their earn and stake programs and also if you hold FTT you get trading discounts, overall not attractive to me so I didn't sign up for FTX.

Really what the heck man this FTX, the more I see the story unfold, the more it looks like a Madoff style con job.


Comments

Post a Comment

Popular posts from this blog

Long-Term Visit Pass - Plus (LTVP-PLUS)

http://www.ica.gov.sg/news_details.aspx?nid=12665 Good news for those of us who cannot get PR for our beloved spouse, because the Singapore government has come up with a enhanced long-term visit pass called LTVP-PLUS or LTVP+. I'll sum up the key points in the FAQ provided by ICA so you don't have to go through one big page. Do let me know if I missed out anything or correction is required by dropping a comment. GENERAL LTVP+ will be in effect from 01 Apr 2012. LTVP+ holders will enjoy extended duration of residency, public healthcare subsidies and easier access to employment. No separate application required for LTVP+; an application for LTVP will automatically include your spouse for LTVP+, if eligible. LTVP applications submitted from 01 Feb 2012 will automatically be considered for LTVP+. The first approved LTVP+ will grant 3 years residency and subsequent renewal will be 5 years. Current holders of LTVP will be considered for LTVP+ on next renewal. If holde...
Read more

How to Marry a Thai in Singapore

Image
You should refer to here -  https://www.rom.gov.sg/reg_info/rom_marriage.asp Please spend some time to go through and understand the information on that section (legal provision, other information, filing of notice, solemnization and etc), if your still not sure, feel free to drop a comment here or you can use their FAQ . The ROM website did a really good job of putting together the information that you need in a well-organized manner. I've done it once and I think the guide is very easy to follow. The only hiccup I've had with my marriage is during the  Appointment for verification & Statutory Declaration where both of us were required to read out a wall of text and my wife had difficulty getting past the first few lines and the counter guy got fed up and told my wife to stop. Definitely my oversight as I didn't arrange for an interpreter beforehand but luckily, there was a licensed interpreter at the scene and we managed to get her to do the interpretation ...
Read more

Commission Calculator for DBS Vickers SG Stocks

Made this little tool to help me calculate the costs of buying or selling a stock, just enter number of shares and price and it will show both buy and sell costs at the same time. Can even choose by cash upfront, online or phone and it will calculate using respective rates. Cash Upfront ONLINE By Phone Shares: Price: Value: Commission: Clearing Fee: ...
Read more