Crypto shaken after Binance hack; Wilmar discloses sales to firms in haze probe: Markets this week
Temasek-backed Mapletree Investments reported to be looking at SGX IPO.
Crypto markets experienced significant volatility this week following a massive hack at the cryptocurrency exchange Binance, which resulted in the theft of around US$6.4 billion worth of cryptocurrencies in just 30 minutes. The incident led to a 5% drop in Bitcoin and a 5.7% decline in Ether within 24 hours. Binance co-chief executive Richard Teng assured investors that customer assets were safe and that the exchange has set aside more than US$6.4 billion to cover losses.
Meanwhile, Wilmar International disclosed sales of fertilizers and heavy equipment to six out of ten companies named in a haze-related investigation, generating US$22.5 million in revenue for the financial year 2025. The conglomerate stated that the fires in Indonesia and transboundary haze have not had any material impact on their operations, despite facing a Government-led haze-related probe.
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