Answers needed in curious case of FTX’s Singapore entity

Many questions have been raised following the spectacular implosion of cryptocurrency exchange FTX, once the most loved and raved about. A key issue that has come up is why Singapore retail users and their assets are not parked under the Singapore entity, Quoine Pte Ltd, which has received an exemption from the Monetary Authority of Singapore (MAS).

A key issue that has come up is why Singapore retail users and their assets are not parked under FTX's Singapore entity Quoine, which received an exemption from MAS.

PHOTO: NYTIMES

Claire Huang

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SINGAPORE - The implosion of FTX, one of the darlings of the cryptocurrency world, has raised several important questions, the key of which points to fundamental flaws both within the exchange and outside.

FTX has filed for protection from bankruptcy

as it owes billions to global users, wiping out hope that retail users can get any money back.

Answers needed in curious case of FTX’s Singapore entity

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