Singapore Financial News

29.05 / 02:33

regulation Investments Report Bloomberg FTX compensation Temasek slashes compensation for execs responsible for its $275M FTX investment

Singapore investment firm Temasek Holdings has reduced compensation for the execs responsible for the firm’s investment into the now-defunct crypto exchange FTX.

28.05 / 02:33

Blockchain Ethereum Twitter Binance CEO USDT Platform Rug Pull analyst Crypto Analyst Warns of Alleged $31.6 Million Rug Pull by Fintoch

ZachXBT, a renowned crypto analyst, recently alerted his followers on Twitter about a probable exit scam by the team behind Fintoch. According to the analyst, the team appears to have absconded with 31.6 million USDT on the Binance Smart Chain (BSC) after the funds were transferred to several addresses on Tron and Ethereum blockchains.

27.05 / 17:55

business Binance regulation Asia Binance kicks off transition to new platform in Japan

After five years out of the Japanese market, crypto exchange Binance has begun the process of establishing a new and fully regulated subsidiary in the country. The move follows the acquisition of the regulated crypto exchange Sakura Exchange Bitcoin (SEBC) in November 2022.

27.05 / 15:49

UPS ETF Airlines Tencent Baidu Consumers are starting to fire up China's pandemic-battered economy, two ETF experts find

China's pandemic-battered economy is starting to see consumers open their wallets wider, according to KraneShares' Brendan Ahern.

26.05 / 13:23

UPS Provident Progressive Web3 Bitcoin Foresight Singapore Venture Capital Firm Foresight Ventures Launches Second Phase of Web3 Accelerator

Foresight Ventures, a venture capital company based in Singapore, has opened up the application process for the second phase of its accelerator program.

25.05 / 02:33

Blockchain Provident Digital Platform Continental Bitcoin Experts Say Crypto Is Destined For Success In Asia

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25.05 / 00:31

Crime IRS Cybercrime IRS Sends Experts Next Month Around the World To Combat Cybercrime With a Focus on Crypto

The US Internal Revenue Service will deploy experts next month to four continents to combat cybercrime, with a particular focus on tax and financial crimes that use cryptocurrency.

24.05 / 14:05

Blockchain defi Scams exit Project takes off with $31.6M in alleged exit scam

A crypto project called Fintoch, which claimed to be backed by investment banking firm Morgan Stanley, seems to have taken off with almost $32 million of its users' funds, according to on-chain detective, ZachXBT.

24.05 / 10:25

business Blockchain Web3 Funding Venture Capital Foresight Foresight Ventures pledges additional $10M for Web3 accelerator

On May 24, Singaporean venture capital firm Foresight Ventures announced that it would pledge an additional $10 million to its Foresight X Accelerator, bringing its total to $20 million. The move comes as the firm opens the second phase of accelerator applications, which will focus on Web3 projects building in the artificial intelligence (AI), zero-knowledge (ZK), machine learning, Bitcoin (BTC), liquid staking derivatives, and nonfungible token ecosystems.

24.05 / 07:39

Blockchain Provident Digital CEO Platform Matrixport Crypto Expo Asia Announces Latest Headline Speakers and Partners: Coinhako, EMURGO, Matrixport, and More

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22.05 / 12:01

Bankruptcy Capital DappRadar Demand Bankrupt crypto NFTs belonging to bankrupt crypto firm fetch nearly $2.5 million at auction

Arrows Capital sold for about $2.5 million. Of the tokens, «Fidenza #725,» an image with graphic dashes and curves in a muted palette of cream, yellow, pink and black, fetched the highest price at over $1 million. Three Arrows Capital purchased it for 135 ether in 2021, equal to about $341,786 at the time, according to DappRadar. The auction was part of liquidating Three Arrows, according to a February memo from Teneo, one of the court-appointed liquidators. Singapore-based Three Arrows was the first major crypto firm to go bankrupt in 2022, brought down by the collapse of cryptocurrencies Luna and TerraUSD. It filed for bankruptcy in the British Virgin Islands in late June 2022.

22.05 / 10:51

Legal Court Terra bail Terra Founder Do Kwon Having His Bail Conditions Appealed in Montenegrin Court

Prosecutors in Montenegro appealed against the bail terms of Terra/LUNA co-founder Do Kwon and chief financial officer Han Chang-Joon.

20.05 / 11:49

Blockchain NFT Bankrupt crypto Bankrupt crypto hedge fund 3AC’s NFT auction fetches $2.5M

The auction for parts of bankrupt Singaporean cryptocurrency hedge fund Three Arrows Capital’s (3AC) nonfungible tokens (NFT) collection fetched $2.5 million at its conclusion on May 19.

19.05 / 19:19

CBDC Adoption Federal Reserve Cross-border NY Fed and MAS publish joint CBDC cross-border payment project results

The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) have published the results of their joint Project Cedar Phase II x Ubin+ (Cedar x Ubin+). The project examined the use of central bank digital currency for wholesale cross-border payments using one or more vehicle currencies.

19.05 / 15:37

Blockchain Ethereum ETF Bitcoin HashKey valuation licence Today in Crypto: Bank of England to Reject Revolut's Banking Licence Application, ASX Abandons Blockchain, HashKey to Raise Funds at $1BN Valuation, Ledger Co-founder Calls Recover Service Launch a 'Horrible Mess'

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18.05 / 21:07

business Venture Capital banking Digital Asset Singaporean family office to set up digital bank in Bahrain

The Whampoa Group, a family office based in Singapore, will open a digital bank in Bahrain, the kingdom’s Economic Development Board said on May 18. The Group expects to open the bank by the end of the year and is aiming for a global client base.

18.05 / 21:05

UPS Provident Digital Cooper CEO Align Whampoa Group to set up crypto-focused digital bank in Bahrain

Shawn Chan, CEO of Whampoa Group, comments: "We were impressed by Bahrain’s solid reputation in the financial services sector, transparent regulatory framework, and ongoing pledge to collaborate and innovate. We are committed to providing innovative digital financial solutions in line with global best practices and are confident that our digital bank will set a new benchmark for the industry.Bahrain was among the first Gulf Cooperation Council (GCC) countries to issue crypto-asset licenses.Khalid Humaidan, chief executive of the Bahrain Economic Development Board, says: "The establishment of these types of institutions are vital to further strengthening the existing digital assets industry.

18.05 / 18:31

Adoption open Whampoa Group Private Family Office to Open Digital Bank in Bahrain – Here's the Latest

Singapore-based investment firm Whampoa Group aims to open a digital bank in Bahrain to offer payment and settlement services for crypto firms.

18.05 / 14:55

Citi Digital CEO Platform Fighting Huobi Chinese State-Owned Greenland Eyes Hong Kong Virtual Asset Trading License

Chinese state-owned real estate firm Greenland Holdings has expressed interest in joining Hong Kong's digital assets hub.

18.05 / 08:41

UPS Provident Digital Cooper CEO Align Whampoa Grup to set up crypto-focussed digital bank in Bahrain

17.05 / 17:51

Blockchain Ethereum defi Decentralization Bitcoin Support Crypto.com adds Pay support for MATIC, USDC and DAI

Singaporean cryptocurrency exchange Crypto.com recently launched an update to its DeFi wallet service enabling support for fiat-to-crypto purchases in more countries and three new tokens.

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