Source: Giphy 2022 is indeed a very bad year for most investors, especially so for crypto investors. There were already a series of high-profile collapses – from Terra-Luna, followed by Three Arrows Capital, Hodlnaut, and now… FTX. If you have not heard by now, Singapore’s state investor, Temasek, has invested quite a bit in FTX. To be exact, it’s US$275 million (or S$377 million) and it will write down its investments in FTX. For the uninitiated, a write-down is an accounting term for the reduction in the book value of an asset when its fair market value (FMV) has fallen below the carrying book value, and thus becomes an impaired asset. In layman’s terms, this means that Temasek will consider this investment in FTX as a loss, and likely remove these investments from their balance sheet.