Singapore’s Wary Crypto Embrace Leaves Richest Mogul in the Cold

Jan. 11, 2022, 16:00

Managing Director of Binance Holdings Ltd. Changpeng Zhao assumed a courageous air.

A subsidiary of the world’s largest cryptocurrency exchange had just withdrawn its candidacy to manage an exchange in Singapore. Zhao, the the richest cryptocurrency person with a fortune of around $ 90 billion, taken to Twitter to say that the affiliate’s investment in another exchange – which was regulated – made the request “somewhat redundant.”

Changpeng Zhao

Photographer: Wei Leng Tay / Bloomberg

It turns out that the other exchange has a license to trade certain things – such as shares of private companies and tokenized assets – but not cryptocurrencies. Most importantly, the …

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