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FTX collapse put the Singapore government in a parliamentary hot seat

November 28, 2022


The collapse of the now-bankrupt cryptocurrency exchange FTX has put the Singapore prime minister and the ruling government in a hot seat. Prime Minister Lee Hsien Loong and Deputy Prime Minister Lawrence Wong are set to face grilling questions for their failure to protect retail investors.

The Members of Parliament (MP) from the opposition Workers’ party raised 15 questions about Temasek’s investment and FTX collapse. The MPs questioned the government’s credibility in tracking the extent of investments by Temasek and Singapore’s sovereign wealth fund GIC.

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