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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".

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Temasek refutes claims of investment in Array

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

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.

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Comments: (1)

A Finextra member 

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

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