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Su Zhu, co-founder of the bankrupt crypto hedge fund, Three Arrows Capital (3AC), has been detained by law enforcement in Singapore over a year after the hedge fund collapsed in 2022. Zhu, who was believed to be in Dubai at some point following the collapse of 3AC, was reportedly arrested at
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The co-founder of Three Arrows Capital (3AC), Su Zhu, was arrested in Singapore when attempting to leave the country, Cryptox has learned from Teneo, the joint liquidator of the bankrupt hedge fund. In a statement, Teneo announced that Zhu “was apprehended at Changi Airport whilst attempting to travel out of Singapore
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The Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland have completed Project Mariana. Project Mariana focused on the cross-border trading and settlement of CBDC between financial institutions by applying the decentralized finance (defi) technology. The initiative was developed by three financial innovation hub centers (the Swiss,
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As part of Project Marina, the three banks have collaborated with the Bank of International Settlements (BIS), for conducting CBDC cross-border settlements. The central banks of France, Switzerland, and Singapore collaborated with the Bank of International Settlements (BIS) to conduct a joint test for cross-border payments with central bank digital
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Project Mariana's proof of concept used a hypothetical euro, Singapore dollar and Swiss franc wCBDCs between simulated financial institutions. The project relied on "a common token standard on a public blockchain which facilitates interoperability and seamless exchange of wCBDC across varied local payment and settlement systems maintained by participant central
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The Bank for International Settlements (BIS) and the central banks of France, Singapore and Switzerland concluded a joint test of the cross-border trading and settlement of wholesale central bank digital currencies (CBDCs). The Banque de France issued the report on Sept. 28.The so-called Project Mariana was developed by the Banque
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The Singapore Police Force is planning to take further action in response to the largest money laundering case in the country. Currently, cryptocurrencies valued at $26 million have already been seized in relation to the case. Major seizures It was reported in August that Singaporean authorities apprehended 10 foreign individuals, between the ages of 31
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Citi’s securities services business will provide custody services for fractionalized and full-sized blockchain-based bonds. Citi Securities Services, a management hub offering securities solutions, is now providing digitalcustody for bonds traded on BondbloX Bond Exchange (BBX), a fractional bond exchange regulated by the Monetary Authority of Singapore. In a press release on Sept.
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Southeast Asia’s premier tech startup, Grab is teaming up with USDC stablecoin issuer Circle to pilot a web3 wallet within its super-app. The announcement came on Sept. 14, with Circle revealing that these new services would be accessible to Grab users in Singapore via the newly introduced “Grab Web3 Wallet”. This integration
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The Monetary Authority of Singapore has issued a nine-year prohibition order against the founders of Three Arrows Capital (3AC). The order was issued against Zhu Su and Kyle Livingston Davies for violating different regulatory laws, such as the Securities and Futures Act 2001 (SFA) and Securities and Futures (Licensing and Conduct
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