Singapore investors in bankrupt FTX crypto exchange resigned to writing off losses

Institutional investors who backed FTX may face scrutiny for possibly allowing the company to run with little oversight. PHOTO: REUTERS
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SINGAPORE - When news broke earlier this week about a liquidity crunch at cryptocurrency exchange FTX, financial adviser Ng Ming Jie was among those who tried to withdraw crypto from the platform.

The 33-year-old, who had been trading on FTX since mid-2021, was introduced to the platform by financial influencers, or finfluencers, online and stayed because of the comparatively low fees and functionality.

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