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Many market makers believe the reelection of Donald Trump to the White House could mark the start of a golden age for crypto assets. But some experts warn the risks are as great as the potential rewards. (Nikkei illustration)

Rich Asians fuel Singapore crypto craze on Trump, bitcoin hype

Digital asset players and private banks race to capitalize on growing interest in sector

SINGAPORE -- Over steak and wine at a swanky restaurant in downtown Singapore a week after Donald Trump won November's U.S. presidential election, Gerald Goh pitched a bright future for digital assets to journalists covering cryptocurrencies.

The return to the White House of the former reality TV star, cast as a figure whose policies will usher in a boom for virtual money, has spurred rising bets on the sector's coins and companies. And for bankers, fund managers and private wealth advisers in the city-state, it has triggered a frantic chase for the rich clients allocating more capital to a reenergized segment of digital finance.

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