Temasek Reiterates No Direct Crypto Investments, Focuses on Blockchain Infrastructure

Temasek, one of the world's most watched sovereign wealth funds, has reaffirmed its stance on cryptocurrency investments. In an interview, Nagi Hamiyeh, chief investment officer at Temasek, stated that the fund will not invest directly in cryptocurrencies due to regulatory uncertainty.

The fund took a $275 million impairment on its FTX investment in 2022 and has since drawn a clear line around direct crypto exposure. This decision is not a temporary pause or tactical portfolio decision, but rather a boundary set by institutional risk parameters.

Temasek will continue to monitor blockchain infrastructure applications in the real economy, but views cryptocurrencies as a separate category due to price discovery issues and inadequate regulatory frameworks.