Singapore-based state-owned investment fund, Temasek, recently denied the news of their $10 million investment in the crypto-startup named Array. Reports of the investment had circulated on the internet which valued Array at more than $100 million. As a result, Temasek took to Twitter to clear out the false news. Array had initially shared the coverage of the investment via their Twitter account and had no immediate response when asked for comment.

Further investigation revealed that Binance Labs, the venture arm of the major crypto exchange, had also not been involved. This case raises a red flag on the nascency of the blockchain and crypto industry.

It is important to note that this is not the first incident of its kind. Only two weeks ago, a list of supposed investors was published by OPNX, the crypto exchange founded by Su Zhu and Kyle Davies, which led to several names distancing themselves from the project.

The prevalence of false news stories showcases the ever-growing need for transparent, reliable sources of information when it comes to the crypto industry. Temasek's previous bad experience, notwithstanding, the investment firm is maintaining an open stance and is willing to take risks when properly informed.

This incident reiterates the uncertainty that comes with investing in cryptocurrency. It can be difficult to differentiate between reliable and unreliable sources, which can lead to significant losses. To avoid falling victim to a fraudulent investment opportunity, one must remain vigilant and thoroughly research any crypto-based project before investing any funds.



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