Crypto

Bitcoin’s Recent Sell-off and Other Crypto News

Near the beginning of June, the World Bank reduced its forecast for worldwide economic growth for the year to 2.9%, the reasons being: accelerated inflation, depressed stock markets, and high Fed interest rates. These factors also contributed to a severe

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Luno’s Singapore Users Can Now Buy Crypto Using Debit or Credit Cards

Global cryptocurrency company Luno announced its partnership with payments provider FIS for its Worldpay Merchant Solutions capabilities to enhance payment options on its app. From today onwards, Singapore customers will be able to purchase cryptocurrencies instantly using their credit or

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Zipmex Resumes Withdrawals, Writes off Celsius’ US$5 Million Loan

Singapore-based cryptocurrency exchange Zipmex announced that it will resume trade wallet withdrawals for its global and Singapore users. The firm added that it is working on reenabling the withdrawal functionality to all users who have assets in their Z-wallet (subscribers

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Singapore-Based Crypto Exchange Zipmex Halts Withdrawals Due to Market Conditions

Singapore-based cryptocurrency exchange Zipmex announced that it will be pausing withdrawals on its platform until further notice. Zipmex, which operates in Singapore, Australia, Indonesia, and Thailand, has joined the likes of Vauld to halt withdrawals during this crypto downturn. On

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MAS to Broaden Focus On Crypto Regulations to Include Consumer Protection

The Monetary Authority of Singapore (MAS) is set to take a more comprehensive approach to crypto regulations and is targeting to consult on proposed measures in the next few months. According to Ravi Menon, Managing Director of MAS, the regulator

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NFT Marketplace OpenSea to Slash 20% Of Its Workforce

OpenSea, a non-fungible token (NFT) marketplace, will be laying off about 20% of its staff citing the crypto winter and broad macroeconomic instability as the reason according to a tweet by Co-founder and CEO Devin Finzer. He said that those

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Banks Are Increasingly Embracing Crypto As It Moves into the Mainstream

The past year has seen cryptocurrency adoption and trading surge. Total transaction reached US$15.8 trillion in 2021, up 567% from 2020, and the number of crypto holders has increased to an estimated 300 million, indicating that digital currencies steadily moving

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Nexo Intends to Fully Acquire Embattled Vauld

Nexo, a Zug-based digital assets institution, announced that it intends to fully acquire Singapore-based crypto platform Vauld. According to Nexo, it has signed an indicative term sheet that grants its a 60-day exclusive exploratory period to complete the due diligence

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Crypto Exchange Binance Pursues Aggressive Expansion Plan in Southeast Asia

Binance has embarked on an aggressive expansion plan in Southeast Asia where the cryptocurrency exchange is looking to capitalize on booming trading activity to establish leadership in the region, and build influence in local markets. These ambitions were materialized by

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Singaporean Crypto Exchange Vauld Suspends All Withdrawals, Trading and Deposits

Singapore-based crypto platform Vauld announced that it will suspend all withdrawals, trading and deposits on its platform with immediate effect. Vauld said in a statement that it is facing financial challenges as it had to contend with customer withdrawals in

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