News on MAS policy, licensing, venture activity, and Singapore’s position as a Web3 finance hub.
Singapore's MAS minister said banks in the country have "insignificant" exposure to crypto.
Oluwapelumi Adejumo 2 min read 
Bank of England speculates FTX collapse is a result of FTT run, Litecoin recently climbs market cap ranking, and much more in this edition of CryptoSlate Wrapped Daily.
The MAS revealed Binance was placed on the IAL because it actively seeks Singaporean users and has features that could be misinterpreted to mean it is licensed by the regulator.
Asia currently holds 7.3% of the total Bitcoin supply as market moves inversely to the West
While Buterin appreciates Singapore's willingness to be supportive of crypto and blockchain, the country cannot have "one without the other".
Temasek revealed that it conducted an extensive due diligence process on FTX, which lasted 8 months between February and October 2021.
The financial regulator argued that it did not have have cause to list FTX on its Investor Alert List.
The Innovation Hub of the Bank for International Settlements (BIS) launched its latest project to explore the use of automated market makers to facilitate foreign exchange markets and CBDC payments.
JPMorgan carried out the transaction on Ethereum layer2 network Polygon because of its cheap transaction fees, and leveraged Aave Protocol's permissioned pool concept.
