Data: The FTX explosion event has the greatest impact on users in South Korea, followed by Singapore

ChainCatcher news, many retail investors in Singapore were affected by the FTX incident. According to data from earthweb.com, Singaporean users account for over 5% of FTX's total user base, making it the second most affected country after South Korea, with Germany ranking third.

It is reported that many retail investors in Singapore did not deposit their assets into FTX's Singapore entity, Quoine Pte Ltd, although this entity has received an exemption from the Monetary Authority of Singapore (MAS). Quoine has been granted a 6-month exemption starting from July 28, which means the entity is allowed to provide digital payment token services to retail investors in Singapore. Once it obtains the license, the company will be renamed FTX Singapore. However, inspections revealed that a large number of Singaporean users did not migrate from FTX.com to Quoine in a timely manner.

In contrast, U.S. users must open accounts with FTX US and cannot open accounts on FTX.com. (straitstimes)