Bitcoin Up 80% Due To Crypto 2022 Crashes, Say Exe
DBS, the Singaporean megabank, is one of the few firms in the world that has earned significant gains from enormous crypto sector crashes in 2022.
Last year, Bitcoin trading volumes increased significantly on DBS Digital Exchange, DBS Bank’s institutional crypto trading platform. According to Lionel Lim, CEO of DBS Digital Exchange, the amount of Bitcoin maintained by DBS for its clients more than doubled in 2022 compared to the previous year.
“Bitcoin trading volumes at the digital exchange grew 80% during the same period,” Lim said in an interview on May 8.
The CEO believes that the increase in demand for crypto services at DBS Digital Exchange is a result of the collapse of crypto exchanges in 2022. Lim stated that DBS continues to observe an increase in volume.
(With inputs from Shikha Singh)
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