In a recent court hearing in Singapore, Su Zhu, co-founder of Three Arrows Capital (3AC), faced questioning regarding the collapse of the crypto fund. The liquidators, Teneo, sought details on the fund’s failure and the location of assets in their efforts to recover billions of dollars owed to creditors.Zhu’s arrest at the Singapore airport in […]
Su Zhu, co-founder of the crypto hedge fund Three Arrows Capital (3AC), is set to be released from custody after spending several months behind bars. Zhu had received a four-month jail sentence for non-cooperation in the liquidation process of the collapsed firm. However, his release is now attributed to his good behavior during his time […]
EFG, a Swiss bank, has made three new high-level appointments in Asia as part of its strategic efforts to expand its business in the Asia-Pacific region. The bank aims to strengthen its regional presence by hiring individuals with extensive experience in Swiss banking.Christina Wong has been appointed as Senior Client Partner based in Hong Kong. […]
Daiwa Securities has partnered with Progmat to develop a solution for issuing tokenized bonds, marking a significant step in modernizing the bond market. The collaboration involves the use of R3’s Corda blockchain technology and the participation of SBI R3. Daiwa’s solution aims to automate the manual process of bond issuance, which typically involves investor contact […]
The Financial Services Commission (FSC) in South Korea has announced new regulations aimed at bolstering investor protection and promoting transparency in the cryptocurrency market. Under the revised regulations, investors in crypto assets will be entitled to receive interest payments on their deposits made through exchanges. This move is intended to ensure the adequate protection of […]
The Korean Financial Services Commission has introduced new investor protection laws to enhance the security of cryptocurrencies in South Korea. As part of these regulations, Korean Virtual Asset Service Providers (VASPs) will now be required to store 80% of their digital assets in cold wallets. This move aims to safeguard investors’ funds by reducing the […]
South Korea’s top financial regulator, the Financial Services Commission (FSC), has proposed new regulations for crypto assets, specifically targeting non-fungible tokens (NFTs), interest on deposits, and the security of customer assets.The FSC aims to exclude NFTs from existing regulations that define “virtual assets” like cryptocurrencies. This is because NFTs have unique characteristics and are not […]
Russian President Vladimir Putin has made a bold prediction about the future of Western banking dominance and the rise of Bitcoin. Speaking at the VTB Investment Forum in Moscow, Putin stated that the era of Western technologies is coming to an end and that Bitcoin will play a role in reshaping international finance in the […]
The Financial Services Commission (FSC) in South Korea has announced new regulations for investors in digital assets. By July 2024, investors must receive interest when depositing funds into an exchange. However, nonfungible tokens (NFTs) and central bank digital currencies (CBDCs) are exempt from this requirement.The FSC plans to release legislative guidance on this matter, with […]
Crypto investors have been withdrawing their assets from the crypto exchange HTX (formerly known as Huobi) after a recent exploit that resulted in a loss of $30 million. Since the exchange resumed its services on November 25th, there has been a significant outflow of funds, totaling $258 million between November 25th and December 10th.According to […]
