- Temasek is reluctant to invest in crypto companies, citing regulatory uncertainty.
- The company’s CIO, Rohit Sipahimalani, spoke with CNBC today about the cryptocurrency market.
- Temasek also posted its worst earnings since 2016 on Tuesday morning.
Temasek Chief Investment Officer Rohit Sipahimalani says now is not the right time to invest in crypto companies.
Why is Sipahimalani avoiding cryptocurrencies?
Bitcoin’s massive rise since the beginning of the year has established that cryptocurrencies are here to stay. The recent filing of a Spot Bitcoin ETF from BlackRock is also an additional stamp of approval.
Still, Sipahimalani is reluctant to expose his Singapore-based investment firm to cryptocurrency firms, citing regulatory uncertainty.talk to CNBC He said this morning:
There are many regulatory uncertainties in this environment. Given the current situation, I am reluctant to invest in exchanges.
The Securities and Exchange Commission is currently at odds with Ripple, the company behind XRP. Viance has also filed a lawsuit. coin base He was recently indicted for violating US securities laws.
Temasek was a former FTX investor
Also on Tuesday, the state-owned conglomerate noted macro and geopolitical challenges, Recorded Annual shareholder return fell 5.07%, the worst level since 2016.
Sipahimalani said Temasek Holdings Limited is open to investing in cryptocurrency companies, but only in a more favorable environment.
If you have the right regulatory framework, we are comfortable with it, and there is a suitable investment opportunity, there is no reason why we should not consider it.
Beware Temasek wrote In November of last year, the investment in FTX was completely “zero”. The net value of the portfolio at the time of writing is approximately $287 million.
