Singapore Financial News

Cryptocurrency exchange Voyager Digital announced Friday that it was temporarily suspending trading, deposits, withdrawals and loyalty rewards. “The failure of a borrower, Three Arrows Capital, to repay a substantial loan from us makes this the right path forward,” Voyager Digital CEO Stephen Ehrlich said on Twitter soon after the service suspension went into effect. 

Zhu Su, the co-founder and CEO of the troubled crypto hedge fund Three Arrows Capital, is reportedly seeking to sell a mansion he owns in Singapore.

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The Monetary Authority of Singapore (MAS) has reprimanded Three Arrows Capital (3AC), a battled hedge fund, for providing inaccurate information to the authorities. In a statement published Thursday, the MAS said that the firm violated capital requirements by having assets under management in excess of the permitted amount.

Crypto exchange Binance has signed a memorandum of understanding (MoU) with the Securities and Exchange Regulator of Cambodia (SERC), according to a June 30 announcement.

SINGAPORE & HONG KONG – JUNE 28, 2022 Hong Kong Digital Asset Exchange Limited (HKD.com), a leading digital asset exchange in Hong Kong, today announces that the company has entered a joint strategic partnership and merger and acquisition with Technicorum Holdings (www.technicorum.com), diving further into the $163 billion annual global blockchain market. The merger company, formerly known as Gravitas International Associates Pte Ltd, a Singapore regulated Payment Services Act exempt company, will be newly renamed as HKD.com (Singapore) Pte Ltd, which will allow both groups to leverage each other's strengths and networks to get more deeply entrenched in the blockchain industry. With regulated payment services globally, a leading centralised exchange app and platform, a regulated token launchpad, expertise from ICO’s to IEO’s, IDO’s, IGO’s, DeFi and NFT’s, as well as recently GameFi, SocialFi, and the Metaverse, this strategic partnership is a great enabler for both HKD.com as well as Technicorum.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Crypto hedge fund Three Arrows Capital (3AC) has entered liquidation, a person familiar with the matter told Reuters on Wednesday, in the latest sign of the market downturn hurting the crypto industry. Singapore-based 3AC is one of the higher profile crypto investors to have run into difficulties following the sharp sell-off in the market for digital currencies seen in recent months. Crypto broker Voyager Digital issued 3AC with a default notice on Monday after it failed to make payments on a loan of 15,250 bitcoin (approximately $324 million) and $350 million worth of USDC, a stablecoin.

A British Virgin Islands court has ordered the liquidation of Three Arrows Capital, according to the reports. The Singapore-based crypto hedge fund has been battling it out in recent weeks after the Terra crash. But with over $400 million in liquidations, it seems time has finally run out now.

Cryptocurrency-focused hedge fund Three Arrows Capital has gone bust, becoming one of the most prominent victims yet of the so-called 'crypto winter'.

Crypto hedge fund Three Arrows Capital has entered liquidation: Report

Terra's $40-billion experiment to create a functional "algorithmic stablecoin" project has failed drastically following its collapse in May.

Troubled cryptocurrency venture capital firm Three Arrows Capital (3AC) is facing more uncertainty amid new reports on the company’s liquidation.

A mild sense of hope emerged among Bitcoin (BTC) investors after the June 18 drop to $17,600 becomes more distant and an early ascending pattern points toward $21,000 in the short-term.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

The last six odd months has seen the cryptocurrency market witness an unparalleled amount of financial volatility, so much so that the total capitalization of this fast-maturing space has dropped from $3 trillion to approximately $1 trillion. This comes after the industry hit all-time highs across the board last November, with Bitcoin (BTC) reaching a price point of $69,000.

Central bank digital currencies (CBDC) do not pose any direct threat to cryptocurrencies like Bitcoin (BTC) but are still associated with risks in relation to stablecoins, one industry executive believes.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Singapore’s financial regulator and central bank has pledged to be “brutal and unrelentingly hard” on any “bad behavior” from the cryptocurrency industry.

Shiba Inu, were trading in a tight range on Thursday amid concerns globally over high inflation and the likelihood of the US economy plunging into recession.Bitcoin has fallen 0.39 per cent in the last 24 hours but was holding above the $20,000 level at $20,412.21, taking its one week slide to 8.8 per cent. Ethereum, the second-largest cryptocurrency, declined 1.78 per cent to $1,086. Ethereum has tanked 11 per cent in the last seven trading sessions.

Chainalysis’ head of international policy Caroline Malcolm expects Australia’s new rules governing crypto advertising, promotion and consumer safeguards to follow a similar path to the United Kingdom when they come into place within the next year.