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Financial authorities in Singapore are taking steps toward increased oversight in the crypto space with the city-state’s central bank reportedly asking companies to provide additional information about their activities and assets. Ahead of a possible broadening of the applicable rules, the authority is trying to get a clearer idea of their financial state, knowledgeable sources … Read more
The MAS reportedly asked crypto firms about their owned tokens, top lending and borrowing counterparties, loans and top tokens staked via DeFi. Go to Source Powered by WPeMatico
DBS, the largest bank in Southeast Asia, says that it has benefited from the recent crypto market sell-off. The trading volume of its crypto exchange nearly doubled in July, compared to April. The quantity of bitcoin bought on its exchange grew nearly four times during that time period. DBS Crypto Customers Bought the Dip DBS, … Read more
Crypto investors bought four times more Bitcoin on DBS Bank’s DDEx in June than in April 2022 as BTC price dipped below $20,000. Go to Source Powered by WPeMatico
SINGAPORE — 8 July 2022 — TOKEN2049, Asia’s premier crypto conference, has announced a new batch of title sponsors and speakers for its upcoming Singapore edition which will be running from 28 to 29 September. This year marks the conference’s Singapore debut, making for a thrilling week of activities as some of the world’s most … Read more
Eight days ago, the crypto lender Hodlnaut announced that the platform was suspending withdrawals after citing volatile market conditions. This week the company says it is seeking judicial management that aims to “provide the best chance of recovery.” Hodlnaut Updates Customers — Crypto Lender Asks Singapore High Court for Judicial Management The crypto lender Hodlnaut … Read more
Singaporean law offers temporary protection against any legal proceedings and claims, which the company believes would provide a breathing space to focus on its recovery plan. Go to Source Powered by WPeMatico
Troubled crypto exchange Zipmex has time to come up with a restructuring plan by Dec. 2 after halting withdrawals in July. Go to Source Powered by WPeMatico
On August 8, the crypto exchange and lending platform Hodlnaut announced that the company has paused withdrawals, token swaps, and deposits. Hodlnaut joins a slew of crypto firms that have frozen withdrawals during the last three months, leaving customers little hope that they will see their funds again. Well before Hodlnaut’s withdrawal pause, the Terra … Read more
Hodlnaut avoided 3AC exposure and earlier denied ever buying UST, but several reports and on-chain data have shown that the lending firm at one point owned over $150M worth of UST. Go to Source Powered by WPeMatico