Singapore's Monetary Authority (MAS) clashes with Hyperliquid Labs over risky perpetual futures, known as 'perps'. The crypto company, founded by Jeff Yan, positions Singapore as its headquarters despite MAS concerns about its decentralized nature. While MAS warns investors that Hyperliquid is unregulated, the firm actively recruits in the city-state and confirms its registered base there.
This tension highlights Singapore's push for institutional crypto innovation versus its caution regarding public risk. Meanwhile, HSBC questions the location of its new AI hub, and other global stories unfold, including high-risk shipping in the Strait of Hormuz and political protests in India.
Source: Financial Times Companies · Summarized by HeadlinesBriefing