ChainCatcher news, according to Cointelegraph, Indian cryptocurrency exchange WazirX is awaiting a hearing on May 13 at the Singapore High Court to obtain permission to restart the platform and begin a compensation plan for users. The exchange suffered a hack by North Korean hackers last July, resulting in a loss of $234 million in crypto assets, which led to the suspension of all withdrawals on the platform. Over 90% of creditors have voted in favor of its restructuring plan, which includes the issuance of recovery tokens, expected to return 75%-80% of users' account balances.If approved, WazirX will resume operations within 10 working days. Meanwhile, the Supreme Court of India has dismissed the lawsuit requests of 54 victims, stating that issues related to cryptocurrency policy are outside its jurisdiction.

ChainCatcher news, according to BUSINESS TIMES, the Singapore Exchange (SGX) plans to launch Bitcoin perpetual futures in the second half of 2025, targeting institutional and professional investors.It is reported that the Singapore Exchange (SGX) is Singapore's only official trading platform for securities and derivatives, regulated by the Singapore government.

ChainCatcher news, according to the Straits Times, more than half of cryptocurrency holders in Singapore have used digital assets for daily transactions. The latest research shows that 52% of cryptocurrency holders have started using cryptocurrencies for payments, and 67% of holders plan to use them in the future.The study found that Generation Z and millennials hold 40% of the country's cryptocurrencies, primarily for online shopping, bill payments, and in-store purchases. Notably, Sony has partnered with Crypto.com to support USDC stablecoin payments in its online store.According to data from blockchain analytics firm Chainalysis, Singapore's cryptocurrency trading volume approached $1 billion in the second quarter of 2024. However, 60% of users still express concerns about the complexity and security of digital assets, and 54% of holders are troubled by the limited acceptance by merchants.

ChainCatcher news, according to The Straits Times, a new survey by Singapore's crypto payment company Triple-A shows that the number of people in Singapore who own cryptocurrency is increasing, with younger users leading the way in using cryptocurrency to meet daily financial needs (such as online shopping and bill payments).As of 2024, the proportion of Singapore residents owning digital assets has reached 26%, up from 24.4% in 2023. Generation Z and millennials (those aged between 16 and 44 as of 2025) are leading in cryptocurrency ownership, with about 40% of them holding cryptocurrency.

ChainCatcher news, according to Decrypt, on Tuesday, Sony Electronics Singapore stated in a press release that it has enabled USDC payments through the payment service of the cryptocurrency exchange Crypto.com, marking the company's first direct cryptocurrency transaction locally. This feature allows customers to check out using the USDC stablecoin, which is pegged to the US dollar.Currently, this feature is limited to the Sony online store and can only be used through Crypto.com's payment system. Although only one cryptocurrency is supported at the moment, Sony has indicated plans to add support for other cryptocurrencies in the future.

ChainCatcher news, according to CrowFund Insider, Singapore-based digital asset infrastructure provider BetterX has completed a Pre-A round financing of 2.3 million SGD (approximately 1.7 million USD). This round of financing will be used to support its business expansion in Asia, the Middle East, and the United States.New investors include Grand Prix Capital, Aument Capital, and notable angel investors such as Sabrina Tachdjian from HBAR Foundation and Riaz Mehta from Crypto Knights. Existing investors Aura Group and Tibra co-founder Kinsey Cotton continue to participate in the funding.BetterX provides institutional-grade infrastructure for tokenization, trading, and digital asset portfolio management for financial institutions. The company has achieved profitability in the Australian market, and its platform supports the issuance and management of tokenized financial products, digital asset trading infrastructure, and custody solutions.The company stated that the new funding will be used to accelerate growth strategies in key markets, establish strategic partnerships, and enhance its technology stack to meet the growing regulatory requirements and customer demands.

ChainCatcher message, known as the "Fed's megaphone," Wall Street Journal reporter Nick Timiraos commented on the Federal Reserve's economic forecasts, stating that officials have lowered their GDP predictions while raising their forecasts for inflation and unemployment rates. However, almost everyone sees the downside risks to the economy. Moreover, nearly everyone believes that there are upside risks to their predictions for unemployment and inflation.

ChainCatcher news, according to Wall Street Journal reporter and "Fed whisperer" Nick Timiraos, Federal Reserve officials will consider adjusting their $6.8 trillion asset reduction policy. For the past three years, the Fed has been reducing its holdings of U.S. Treasury and mortgage-backed securities accumulated during previous stimulus programs, including measures to stabilize the market during the pandemic in 2020.Currently, the Fed may choose to pause or slow down this tapering process. This move aims to avoid a repeat of the situation in 2019, when balance sheet reduction led to stress in the overnight funding market, forcing the Fed to pivot and expand its holdings.Roberto Perli, the executive in charge of overseeing the balance sheet at the New York Fed, stated this month that pausing the tapering would be a "tactical decision" that "would not change the ultimate goal." RBC Capital Markets interest rate strategist Blake Gwinn pointed out that pausing the tapering makes sense because "the debt ceiling will distort these signals."Currently, the Fed allows up to $25 billion in Treasuries and $35 billion in mortgage-backed securities to mature each month without reinvestment. As holdings decrease, bank reserves also decline. However, the debt ceiling issue could interfere with this process, as the Fed is also the government's banker.Analysts expect that the Fed may pause the tapering for several months until the debt ceiling is raised and the Treasury rebuilds its cash balance before resuming. Gwinn stated that if the economy worsens, this "pause" could also turn into a "stop," prompting officials to terminate this form of policy tightening.

ChainCatcher news, Coinbase has announced the launch of Verified Pools, an on-chain trading and swap method that allows users to connect their Prime Onchain wallet, Coinbase wallet, or other third-party wallets with Coinbase verification credentials for trading, addressing the transparency issues of traditional liquidity pools.It is reported that Verified Pools are currently open to users in the United States, Singapore, the Netherlands, the British Virgin Islands, the Cayman Islands, and other locations.

ChainCatcher News, the Asian subsidiary of the American cryptocurrency trading company Cumberland, Cumberland SG, has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license.Once the MPI license is fully granted, it will allow Cumberland to provide regulated digital payment token services in the region. Cumberland stated, "The in-principle approval is a strong signal of confidence from the Monetary Authority of Singapore, but it does not constitute a license at this stage."The in-principle approval from the Monetary Authority of Singapore indicates that a license can be issued as long as certain conditions are met and no adverse developments occur. If necessary, the Monetary Authority of Singapore reserves the right to revoke the approval. Companies operating under the MPI framework must comply with strict requirements, including capital adequacy and anti-money laundering compliance.

ChainCatcher message, the rapid rise in Bitcoin prices last November created a supply gap in the range of $70,000 to $80,000. According to Glassnode data, currently about 20% of the Bitcoin supply is in a state of loss.If Bitcoin currently retraces and falls below $80,000, it may accelerate the decline. Glassnode's UTXO Realized Price Distribution (URPD) chart shows the so-called "supply gap." This indicator tracks the price point at which existing Bitcoin UTXOs last moved. Each bar represents the amount of Bitcoin that was last traded within a specific price range. The data is entity-adjusted, meaning an average purchase price is assigned to each entity, and their entire balance is categorized accordingly.In simple terms, the number of traders who bought Bitcoin in the $70,000 to $80,000 range may be far lower than in other price ranges. Therefore, if the price falls below $80,000, there may be few holders willing to buy the dip at their purchase cost, resulting in almost no support above the historical high of $73,000 set in March 2024.

ChainCatcher news, according to official sources, the Monetary Authority of Singapore (MAS) and the State Securities Commission of Vietnam (SSC) have announced enhanced cooperation in the regulation of capital markets and the regulatory framework for digital assets to support the development of Vietnam's regulatory framework for digital assets.

ChainCatcher news, according to Bloomberg, the Singapore Exchange will list open-ended Bitcoin futures contracts.

ChainCatcher news, according to the Singapore Business Times, a 20-year-old Singaporean, Malone Lam, has been arrested for allegedly participating in one of the largest cryptocurrency thefts in U.S. history. He reportedly spent up to $500,000 (approximately 665,000 SGD) in a nightclub in one night and was seen gifting Hermes Birkin bags to models and influencers at a lavish party. The U.S. Department of Justice stated that Lam was arrested in September 2024 along with his 21-year-old American accomplice, Jeandiel Serrano, and they are charged with "conspiring to steal and launder over $230 million (approximately 306 million SGD) in cryptocurrency." At current prices, the stolen 4,100 bitcoins are worth over $450 million.As of October last year, approximately $70 million has been recovered or frozen at various exchanges. Court documents reveal that "even considering the millions spent by Serrano and accomplices on cars and jewelry, over $100 million remains unaccounted for." If convicted of stealing over 4,100 bitcoins, Lam faces a maximum of 20 years in prison and a fine of up to $250,000 or twice the amount he profited from the fraud. Lam's trial date is set for October 6.

ChainCatcher news, according to Bloomberg, Singapore Prime Minister Lawrence Wong stated that deepfake videos are spreading online, which are being used to promote cryptocurrency, money-making schemes, and permanent residency application services.Wong posted on Facebook and X platforms that he has seen some of these online videos and urged the public to remain vigilant, not to respond to such scams, or share personal information.

ChainCatcher news, according to the Straits Times, Singapore's Minister of State for Home Affairs Sun Xuelin stated that last year, cryptocurrency scams accounted for a quarter of the total losses from fraud. In the highest-value scam case last year, the victim clicked on a fake meeting link, downloaded and ran malicious code on their computer, resulting in a loss of approximately 125 million Singapore dollars.Sun Xuelin mentioned that, in addition to malware, scammers also design fake websites, send phishing links, or use "pump and dump" tactics to inflate the prices of memecoins before causing them to plummet. "Our advice to the public is to stay away from cryptocurrencies. The risk of being 'burned' is very high, and if you become a victim of a scam, the chance of recovering even a cent is very slim."

ChainCatcher news, according to an official disclosure from Matrixport, its subsidiary Fly Wing has obtained a payment service license issued by the Monetary Authority of Singapore (MAS), allowing it to provide digital payment token services in Singapore.The company stated that Singapore, as a major financial center in Asia, this license will help Matrixport further expand its business layout in the Asia-Pacific region, while providing customers with more compliant and secure digital asset services.

ChainCatcher news, according to CoinDesk, the Switzerland-based crypto market maker Portofino Technologies announced plans to open new offices in New York and Singapore. The company is regulated by the UK, Switzerland, and the British Virgin Islands, and was founded in 2021 by two former Castle Securities executives, Leonard Lancia and Alex Casimo.