Not True. State Backed Singapore Fund Temasek Says No Investment in Array

Temasek has taken the extraordinary step of refuting internet chatter that it has invested in Array.

Array is an “omni-chain protocol for application-oriented decentralized asset management” that aims to create a “next-generation algorithmic currency system.”

Temasek is a “generational investor” and global investment company headquartered in Singapore and controlled by the Singapore government.

An article in Cointelegraph from yesterday (May 1) erroneously reported that Temasek has invested $10 million in Array which did not help things by retweeting the article before it was corrected. The article has since been updated to reflect the statement by Temasek, which has issued the following public statement:

“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.”

Temasek may be a bit gun shy about crypto and blockchain in general, as it issued a statement last November regarding its USD $210 million investment in FTX which ended up being a wipeout.

Temasek explains its blockchain strategy as follows:

“Our blockchain investment activity focuses on: Financial market service providers to the digital asset space providing protocol agnostic and market neutral exposure; and Technology infrastructure including protocols, wallets, developer tools, cross-chain messaging, metaverse and gaming infrastructure.”

Temasek reports no direct investments in any cryptocurrencies. Temasek is an active investor in Fintechs.


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