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Crypto

Singapore crypto market jumps 55 percent, led by institutional trading

Singapore’s cryptocurrency economy was estimated at $284 billion, up 55.4 percent over a year, diverging from a 6.8 percent contraction in the Central and Southern Asia and Oceania region. Growth was led by institutional platform activity, which rose 94 percent to $60 billion and was concentrated among a small number of market makers, OTC firms and institutional brokerages. Elsewhere in Southeast Asia, smaller P2P transfers and stablecoin use stood out.

Crypto

U.S. Senate report says 84 percent of Iran-linked sanctioned wallets mainly used Tether\'s USDT

Democrats on a U.S. Senate investigations subcommittee said many crypto wallets designated for sanctions or seizure tied to Iran and affiliated forces used Tether’s stablecoin USDT. The panel analysed 846 wallets and found 84 percent used USDT exclusively or mainly. The report also cited large transaction volumes and alleged links to groups and networks. Tether said it works with U.S. authorities and has frozen assets tied to Iran-linked wallets.

Crypto

Upbit\'s XRP spot trading volume tops Coinbase, sparking claims Seoul sways XRP

Upbit’s spot trading volume for Ripple’s XRP has exceeded that of U.S.-based Coinbase, with XRP/KRW accounting for 15.57 percent of all activity on the South Korean exchange. Data cited by U.Today showed Upbit’s daily XRP turnover at $224.22 million, versus $173.38 million on Coinbase, while Binance led the comparison. The article cautioned that exchange volumes vary by measurement and do not prove South Korea drives global XRP pricing.