FTX bankruptcy affects the crypto acceptance of Singaporeans
According to a chart from Independent Reserve, 45% of Singaporeans do not want to invest in crypto due to its volatility. Events like the bankruptcy of FTX also played a factor in their refusal.
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Source: Independent Reserve Cryptocurrency Index Singapore 2023
Another reason cited by Singaporeans is not enough regulation or consumer protection at 30%. Meanwhile, 27% said they lack interest. Around 24% of consumers also think that it’s too confusing and 19% think it’s a scam.
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