More crypto platforms could seek restructuring in Singapore

Singapore’s legal framework is well-positioned to be the restructuring jurisdiction of choice. PHOTO: REUTERS
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SINGAPORE - The death of cryptocurrency exchange FTX has sent an enormous blow to investors’ confidence, and the panic leading to withdrawals has put many crypto lending platforms at liquidity risk.

Market observers are already seeing an uptick in these players seeking to restructure their debt, and Singapore’s legal framework is well-positioned to be the restructuring jurisdiction of choice, they said.

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