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Temasek refutes claims of investment in Array

Temasek refutes claims of investment in Array

Singaporean investment company Temasek has dismissed claims of a $10 million investment in stablecoin firm Array as "fake news".

Array, which hawks an algorithmic currency system based on smart contracts and artificial intelligence, issued a press release Monday claiming that the investment by Temasek had raised is valuation to $100 million, making it “one of the most valuable algorithmic currency systems in the market”.

In a terse statement, Temasek says: “We have seen news articles and a tweet from Array about Temasek’s investment in it. This news is incorrect. Temasek has not invested in Array and we have no relationship with them.”

Array has yet to respond.

Comments: (1)

A Finextra member
A Finextra member 02 May, 2023, 11:08Be the first to give this comment the thumbs up 0 likes

Was the press release a fake from an investor looking to raise the valuation of Array significantly and then dump the shares? Worth investigating.