Singapore has taken action against Polymarket, a cryptocurrency-based prediction market, as part of its efforts to combat unlicensed gambling platforms.
On January 12, several users in Singapore reported being unable to access Polymarket.
Alex Zuo, Vice President of Investment and Custody at Cobo Global, commented on X:
“Polymarket is officially defined as a gambling website in Singapore. If you want to place a bet, you can only go to a state-owned gambling company. Otherwise, you will face fines and imprisonment.”
Users attempting to visit Polymarket are greeted with a warning under Section 20 of the Gambling Control Act 2022.
The act imposes penalties of up to SG$10,000, jail terms of up to six months, or both for gambling with unlicensed operators.
The warning from the Gambling Regulatory Authority (GRA) reads:
“You have attempted to access an illegal gambling site hosted by an unlicensed gambling service provider. Singapore Pools is the only licensed online gambling operator in Singapore.”
Regulatory Landscape
The GRA, established on August 1, 2022, oversees all forms of gambling in Singapore.
It was created by restructuring the Casino Regulatory Authority to address the changing nature of gambling products and services.
Polymarket operates on the Polygon blockchain, allowing users to bet on global events using USD Coin (USDC).
From January 1, the Singapore Police Force assumed enforcement authority for illegal gambling.
According to the GRA, Singapore Pools is the sole operator licensed to offer remote gambling services.
Violators face fines of up to SG$500,000 and imprisonment of up to seven years, with repeat offenders subject to harsher penalties.
Since 2015, the GRA has blocked more than 3,800 gambling websites and SG$37 million in transactions.
Singapore’s Crypto Leadership
Despite its strict gambling regulations, Singapore is a blockchain and cryptocurrency hub.
A December study by ApeX Protocol highlighted Singapore’s 1,600 blockchain patents, 2,433 crypto-related jobs, and 81 cryptocurrency exchanges.
In 2024, Singapore doubled its issuance of digital asset licenses, granting 13 major payment institution licenses, more than twice the number in 2023.
Solana-based decentralized exchange Mango Markets has announced its closure.
On January 11, Mango Markets shared on its X account: “We are shutting down. It’s time for users to close their positions.”
The decision follows governance proposals that unanimously supported adjustments to interest rates and collateral requirements, effectively terminating borrowing and lending services. These changes will take effect on January 13.
SEC Settlement
The shutdown comes after a settlement with the US Securities and Exchange Commission (SEC).
On September 27, 2024, the SEC filed charges against Mango DAO and the Blockworks Foundation for selling unregistered securities.
According to the SEC, Mango raised over $70 million in August 2021 by selling MNGO governance tokens in violation of the Securities Act of 1933.
The SEC also accused Mango Labs of operating as an unregistered broker, breaching the Securities Exchange Act of 1934.
As part of the settlement, Mango DAO agreed to pay $700,000 in penalties, destroy its MNGO tokens, and request the delisting of these tokens from exchanges.
“Since the inception of our crypto enforcement program, our view has been that the label ‘DAO’ does not change the reality of who is behind a project,” said Jorge Tenreiro, chief of the SEC’s Crypto Assets and Cyber Unit.
Legal and Financial Struggles
Mango Markets’ difficulties date back to an October 2022 exploit by crypto trader Avraham “Avi” Eisenberg, who drained over $100 million from the platform.
Although Eisenberg returned $67 million as part of a governance vote, he kept $40 million.
US authorities arrested Eisenberg in December 2022, charging him with fraud and market manipulation.
He faces up to 20 years in prison, with his sentencing delayed multiple times due to legal complexities.
Mango Markets was launched in August 2021, offering fast and affordable trading and lending services using its MNGO governance token.
At the time of writing, the platform holds $9 million in total value locked, a sharp decline from its $210 million peak in November 2021, according to DefiLlama.
Donald Pumps could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Donald Pumps (DONPUMPS), a new Solana memecoin that was launched today, is set to explode over 16,000% in price in the coming days.
This is because DONPUMPS is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Donald Pumps can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Donald Pumps could become the next viral memecoin.
Donald Pumps launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Donald Pumps on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Donald Pumps by entering its contract address – 4AiQS1KegadchxjSm4hmifemyRE7gyk3Hieca9wGXGts – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DONPUMPS.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Donald Pumps could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Donald Pumps (DONPUMPS), a new Solana memecoin that was launched today, is set to explode over 16,000% in price in the coming days.
This is because DONPUMPS is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Donald Pumps can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Donald Pumps could become the next viral memecoin.
Donald Pumps launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Donald Pumps on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Donald Pumps by entering its contract address – 4AiQS1KegadchxjSm4hmifemyRE7gyk3Hieca9wGXGts – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DONPUMPS.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Donald Pumps could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Donald Pumps (DONPUMPS), a new Solana memecoin that was launched today, is set to explode over 16,000% in price in the coming days.
This is because DONPUMPS is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Donald Pumps can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Donald Pumps could become the next viral memecoin.
Donald Pumps launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Donald Pumps on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Donald Pumps by entering its contract address – 4AiQS1KegadchxjSm4hmifemyRE7gyk3Hieca9wGXGts – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DONPUMPS.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Crypto markets are in the “Banana Zone” and heading toward a “Banana Singularity,” a phase where “everything goes up,” according to Real Vision co-founder and CEO Raoul Pal.
The “Banana Zone,” coined by Pal, refers to periods of significant upward price movement.
“Yes, we are still in the Banana Zone,” Pal said on X on Jan. 10, adding that the first phase of this bull market began with a breakout in November last year.
This phase was followed by consolidation, similar to the 2016–2017 cycle, which Pal noted “won’t last long.”
Pal predicted the next stage, the “Banana Singularity,” as an altcoin season “when everything goes up, followed by a bigger consolidation.”
Altcoin seasons typically follow declines in Bitcoin (BTC) dominance, which currently remains high at 58%, per TradingView.
DeFi researcher 0xNobler appeared to agree with Pal, writing on X that “Bitcoin just entered the acceleration phase” and forecasting a dramatic rise to $500,000, which could “ignite the biggest altseason in history.”
Futures trader CoinMamba, however, offered a more skeptical take, saying, “This sell-off is so bad that we will have an altseason just by prices going back to what it was one week ago.”
Pal described the third and final phase of the Banana Zone as the “concentration phase,” where “core winners explode on to make much higher highs.”
Despite recent corrections, crypto markets have risen 90% year-over-year in total market capitalization, growing from $1.8 trillion to $3.4 trillion after most of 2024 was spent consolidating.
Total market capitalization reached an all-time high of $3.9 trillion on Dec. 17, marking a 27% increase over the previous cycle’s peak.
Doge’s Alt Rally could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Doge’s Alt Rally (DOGEALTS), a new Solana memecoin that was launched today, is set to explode over 15,000% in price in the coming days.
This is because DOGEALTS is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Doge’s Alt Rally can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Doge’s Alt Rally could become the next viral memecoin.
Doge’s Alt Rally launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Doge’s Alt Rally on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Doge’s Alt Rally by entering its contract address – BzNdWPmGnwyYrsTDbDy4hafnRpRd2AZp4ATNbJNFXmqm – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DOGEALTS.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Elon Buys Solana could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
Elon Buys Solana (ELONBSOL), a Solana memecoin launched today, is set to explode over 16,000% in price in the coming days.
This is because ELONBSOL is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, Elon Buys Solana can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Elon Buys Solana could become the next viral memecoin.
Elon Buys Solana launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Elon Buys Solana on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Elon Buys Solana by entering its contract address – 85b1Mza2zF6SDGXZURjeu53wdapN6W1UjFC4PAqhKE8k – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like ELONBSOL.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Doge’s Alt Rally could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Doge’s Alt Rally (DOGEALTS), a new Solana memecoin that was launched today, is set to explode over 15,000% in price in the coming days.
This is because DOGEALTS is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Doge’s Alt Rally can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Doge’s Alt Rally could become the next viral memecoin.
Doge’s Alt Rally launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Doge’s Alt Rally on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Doge’s Alt Rally by entering its contract address – BzNdWPmGnwyYrsTDbDy4hafnRpRd2AZp4ATNbJNFXmqm – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DOGEALTS.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Elon Buys Solana could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
Elon Buys Solana (ELONBSOL), a Solana memecoin launched today, is set to explode over 16,000% in price in the coming days.
This is because ELONBSOL is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, Elon Buys Solana can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Elon Buys Solana could become the next viral memecoin.
Elon Buys Solana launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Elon Buys Solana on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Elon Buys Solana by entering its contract address – 85b1Mza2zF6SDGXZURjeu53wdapN6W1UjFC4PAqhKE8k – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like ELONBSOL.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.