Temasek, Singapore's government-owned investment firm, continues its interests in cryptocurrency-related investments even after the collapse of cryptocurrency exchange FTX. Most recently, Temasek invested $10 million in Array, a developer of an algorithmic currency system based on smart contracts and AI technology. The new round of funding is expected to bring Array's valuation to over $100 million.

Designed to be an asset superior to traditional cryptos like Bitcoin, Array's algorithmic system is said to have a diverse range of uses such as payments, remittances, and investments. Its smart contract platform, ArrayFi, enable dApps created on top of its network to be run by its AI algorithm named ArrayGo. This particular algorithm works independently and is only triggered by market action. Its unique bonding curve smart contract which implements a traditional bonding curve is used to keep the value of the native token, Ara (ARA), stable and predictable for investors and traders.

The investment follows a statement from the Singapore government in November of 2022 where they explain that Temasek had suffered reputational damage in addition to the financial losses it suffered as a result of its investment in FTX. At that time, the exchange's collapse caused Temasek to write down the entirety of its $275 million FTX investment, which accounted for 0.09% of the company's $403 billion portfolio in March of 2022. Temasek also recently participated in a $10 million series A round for the US impact-verification and intelligence firm BlueMark in April.

Though Temasek's investment inFTX has suffered a huge blow, the company still demonstrates its commitment to cryptocurrency, as evidenced by its investments in projects such as Array. While it remains to be seen what the future of Temasek's investments in cryptocurrency will hold, it is certain that the company is determined to remain a key player in the space.



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