10 Southeast Asian Nations Challenge Dollar Dominance With Push for Local Currencies

The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore,…

Crypto Exchange Bitrue Suffers $23 Million Hack

Singapore-based crypto exchange Bitrue has lost millions of U.S. dollars’ worth of ether and other coins in a hack. The trading platform suspended withdrawals until early next week to conduct additional security checks and promised to compensate the affected users. Bitrue…

India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar

The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this measure to facilitate payments…

Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket

Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.”…

Hashkey Capital Raises $500 Million for Its Third Fund, Despite Crypto Market Downturn

On Tuesday, global asset manager Hashkey, which focuses on crypto and blockchain investments, announced that it has closed its third fund at $500 million. The company’s “HashKey Fintech Investment III” is dedicated to developing crypto solutions, blockchain technology, and Web3 concepts….

Report Shows Financial Troubles Plagued Bankman-Fried’s Alameda Research as Early as 2018

Before FTX collapsed it was assumed that Alameda Research was one of the top quantitative trading firms and market makers within the industry. However, much of that perception may have been a facade as a recent report details that Alameda suffered…

Singapore Seeks to Reduce Risks for Retail Crypto Investors With Restrictive Rules

Financial authorities in Singapore have proposed new regulations designed to protect consumers from risks associated with cryptocurrency investment and trading. The measures, which also aim to expand regulations for stablecoins, will be discussed with the industry before their adoption. Singapore Prepares…

Coinbase Receives In-Principle Approval to Provide Crypto Services in Singapore

Singapore’s central bank, the Monetary Authority of Singapore (MAS), has given Coinbase “in-principle approval” allowing the crypto exchange to “offer regulated digital payment token products and services in the island state.” Coinbase stressed: “Today’s announcement underlines our commitment to Singapore as…

Singapore Seeks Detailed Information From Crypto Firms Ahead of New Regulations, Report Unveils

Financial authorities in Singapore are taking steps toward increased oversight in the crypto space with the city-state’s central bank reportedly asking companies to provide additional information about their activities and assets. Ahead of a possible broadening of the applicable rules, the…

Crypto Lender Hodlnaut Pauses Withdrawals — Company Cites Market Conditions, Despite Recent Crypto Rally

On August 8, the crypto exchange and lending platform Hodlnaut announced that the company has paused withdrawals, token swaps, and deposits. Hodlnaut joins a slew of crypto firms that have frozen withdrawals during the last three months, leaving customers little hope…