Crypto lender Matrixport seeks $100M funding despite lending crisis
Matrixport, the cryptocurrency firm founded by Bitmain co-founder Wu Jihan, is in the process of raising $100 million in funding despite the ongoing crypto market crisis. Lead investors have already committed $50 million for Matrixport’s new funding round at a $1.5 billion valuation, Bloomberg reported on Nov. 25. The deal has yet to be finalized […]
Crypto lender Hodlnaut reportedly faces police investigation in Singapore
Singapore-based crypto lender Hodlnaut is reportedly facing a police probe over alleged offenses of cheating and fraud. According to reports published in local media, the police’s commercial affairs department has launched an investigation into the founders of the exchange based on multiple complaints against the platform between August and November 2022. The Singapore police noted […]
Singapore central bank explains why Binance was on its alert list, but FTX wasn’t
The Monetary Authority of Singapore (MAS), the country’s central bank, released a statement Nov. 21 to address “some questions and misconceptions that have arisen in the wake of the FTX.com (FTX) debacle.” The first point MAS wanted to make was that it could not protect local users from the fallout from FTX collapse “such as […]
Singapore police warn investors against FTX phishing scams: Report
The Singapore Police Force has warned investors to be weary of fake websites claiming they can help them recover funds from the now-bankrupt cryptocurrency exchange FTX. On Nov. 19, the police issued a warning about a website claiming to be hosted by the United States Department of Justice that prompts FTX users to log in […]
No red flags at FTX despite 8 months of ‘extensive due diligence’ — Temasek
Singapore’s state-owned investment firm Temasek revealed despite eight months of due diligence in 2021, it didn’t find any significant red flags in FTXs financials before deciding to invest $275 million into the now-bankrupt crypto exchange. Like many of FTX’s more than one million creditors, the Singapore-based firm has been left blindsided by the collapse of […]
New York Fed collaborates with Singapore MAS to explore CBDCs
The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) will launch a joint experiment with wholesale central bank digital currencies (wCBDCs). Regulators are keen to test the wCBDCs potential for cross-border wholesale payments. On Nov. 11, the MAS announced the launch of Project Cedar Phase […]
Singapore’s Temasek engages with FTX in liquidity crisis
Singapore’s state-owned investment firm Temasek, a shareholder at FTX, is reportedly engaging with the cryptocurrency exchange in the liquidity crisis that led to its unexpected (and still pending) bail out on Nov 8. In comments to Reuters, the sovereign wealth fund said it was “aware of the developments between FTX and Binance, and are engaging […]