News on MAS policy, licensing, venture activity, and Singapore’s position as a Web3 finance hub.
The court has asked Vauld to share cash flow and management of accounts details with creditors within two and eight weeks respectively.
Monica Noronha 2 min read 
Zipmex exchange at the brink of a collapse turns to the Singapore High court for bankruptcy protection as it looks to raise more funds to continue operation.
Three Arrows Capital (3AC) was founded in 2012 by Kyle Davies and Su Zhu, who attended Columbia University together and later worked as colleagues at banking giant Credit Suisse.
Zhu and Davies of Three Arrows Capital recount the story behind the hedge funds rise and fall, as they prepare to relocate to Dubai.
Recent market turmoils and the resulting financial problems of key business partners led Zipmex to halt withdrawals, the firm said.
The 3AC liquidators have hired Singapore-based counsel to persuade the city-state's High Court to recognize the BVI liquidation order.
Singapore's crypto players expect the country to become more strict towards crypto firms as they expect more bankruptcies from companies like Three Arrows Capital.
SIngapore's financial regulator says there is need for global collaboration to better regulate the crypto industry because of its "borderless nature."
According to the court filings, Deribit claimed, "the company is or is likely to become unable to pay its debts as they fall due, and therefore insolvent."
