Singapore Financial News

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Embattled crypto lending platform Vauld has been granted a short period of reprieve from creditors after being given a three-month moratorium by the Singapore High Court on Monday. 

A Singapore court on August 1, granted a three-month moratorium to cryptocurrency lending start-up Vauld till November 7, 2022. Following demand letters from a few creditors, the judge further gave a deadline of four weeks to the company to explore mechanisms for withdrawal for creditors in need.

The non-fungible token (NFT) market has drawn equal admiration and controversy among people interested in making money in the digital realm. Arguably one of the most peculiar products on sale in this market are NFT mystery boxes.

With the ultimate goal to regain investor confidence amid a prolonged bear market, crypto derivatives exchange Bitget launched a $200 million fund to safeguard users’ assets. Bitget joins the growing list of crypto companies, such as Binance, that have taken an investor-centric approach to gain investors’ trust via protection funds.

Under the mattress, in the seams of a piece of luggage or even rolled into a cigar, what are the worst and best ways for keeping a seed phrase safe? The key to unlocking and recovering cryptocurrency, a seed phrase, should be secured and safe. 

The Hong Kong University of Science and Technology (HKUST) announced to host the launch party of a virtual reality classroom over the Metaverse on September 1. The launch marks the commencement of HKUST’s plan to promote immersive learning by building a virtual campus in the Metaverse, to be called MetaHKUST.

Major cryptocurrencies traded in the green early on July 31 as the global crypto market cap rose 0.23 percent to $1.10 trillion over the last day. On the other hand, the total crypto market volume dropped 22.63 percent to $76.84 billion over the last 24 hours.

Major cryptocurrencies traded in the green early on July 30. The global crypto market cap is $1.10 trillion, a 0.34 percent increase over the last day. The total crypto market volume over the last 24 hours is $99.57 billion, which is a 6.47 percent increase over the previous day.

The past six-odd months have been nothing short of a financial soap opera for the cryptocurrency market, with more drama seemingly unfolding every other day. To this point, since the start of May, a growing number of major crypto entities have been tumbling like dominoes, with the trend likely to continue in the near term.

Bitcoin topped the $24,000 level, despite the fact that US GDP contracted more than expected. Risk appetite is roaring back but experts believe that it is too quick to jump to any conclusion. Barring the US dollar-pegged stablecoins, all other top crypto tokens were trading higher.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

At the time, Zipmex had claimed it was working to address exposure of $53 million to crypto lenders Babel Finance and Celsius amid the threat of legal actions from creditors, as reported by Coindesk. Zipmex is the latest victim in a growing line of crypto firms experiencing issues after the sharp selloff in May 2022 that resulted in the collapse of Luna and TerraUSD.

Singapore-based crypto trading platform Zipmex has halted some of its core activities in response to its partner Celsius Network and Babel Finance's financial woes, which it has exposed. Reportedly, the trading platform is seeking bankruptcy protection from the local court. 

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

The crypto platform operates in Singapore, Thailand, Indonesia and Australia.

Legal marriage proceedings, court case disputes and government services may one day be offered on the Metaverse, according to a Singaporean government minister. 

In a document dated Wednesday, July 27, Thai cryptocurrency exchange Zipmex said that its solicitors in Singapore, Morgan Lewis Stamford LLC, filed five moratorium applications, or legal authorization to debtors to postpone payment, under Section 64 of Singapore’s Insolvency, Restructuring and Dissolution Act 2018 on behalf of the company. Zipmex seeks to protect itself against third party actions, claims, and proceedings for a period of six months while the filing is active. The announcement came just one week after its CEO and co-founder Marcus Lim publicly denied the firm was facing financial troubles. Rumors have been circulating in the past month that the cryptocurrency exchange was insolvent after a proposed acquisition by Coinbase fell through. 

In this article

The legal battle with the SEC is not the only issue that has been receiving quite a turnaround where Ripple is concerned.