World Ledger with Coco Kee

If we had to pick one word to describe how the crypto industry feels right now, it’s anxiety. For Senators, it’s fatigue. There are so many variables and competing interest groups woven into the Clarity Act that the process has become increasingly political. The industry has been asking for regulatory clarity for years, yet progress remains stuck, going nowhere. At the same time, the OCC is facing intense pressure, and even legal threats from banking associations and state regulators over its approvals of crypto-native companies for national trust charters. Meanwhile, commission-level guidance from the SECand CFTC is historic, but for some, it feels more like a temporary sandbox than a lasting solution. Jason unpacks these battles, dives into the root causes behind the controversies, and shares his realistic outlook on what comes next. This is a must-listen episode.Follow Jason: X: @regulatoryjason; LinkedIn; Forbes: Follow Coco: X: @CocoKee; SubstackTimestamps:(00:00) Introduction(01:20) Clarity Act stalled in the Senate(01:38) Clarity Act - Difference in voting mechanism between House and Senate(03:20 Clarity Act - 3 major elements(06:31) Clarity Act - Where the major controversies are(10:18) Any clear path for Clarity Act to pass the Senate(11:57) How realistic is it to get Clarity Act passed 2026(12:50) Procedural Hurdles: Merging the two versions of Clarity Act(14:15) Summary about the hurdles facing Clarity Act and path to pass it(16:17) OCC facing pushback from banking industry and state regulators(21:03) Why new national trust banks approvals for crypto companies upset big banks?(22:38) You don't belong to the banking elite club(24:29) What would happen if banking industry succeeded in the lawsuit against OCC(27:03) Why SEC+CFTC commission-level guidance historic, but still only a temporary solution(33:22) Why SEC's Innovation Exemption (the sandbox) not good enough to some

What does a veteran macro investor see that most people are missing heading into 2026? My guest Shengbei, who correctly called the #gold trade, the dollar selloff, and the post-August liquidity squeeze, returns to World Ledger to break down what's really driving markets right now. From gold's decade-long structural tailwind and the de-dollarization quietly reshaping global trade, to why he turned bearish on #bitcoin and #crypto, and what Kevin Warsh as the new Fed chair actually means for liquidity, this conversation cuts through the noise. A must-listen for anyone trying to understand the macro forces moving real assets in 2026.Shengbei is the CEO of New York-based GSB Podium Advisors, with over two decades of experience spanning Morgan Stanley, Deutsche Bank, and senior investment roles at CITIC Securities — one of China's leading financial institutions.(00:15) Introduction and Market Backdrop(01:16) 2025 Review (01:45) February - April 25, Sell Dollar & Risk Assets, Long Gold(02:24) April - August 25: Long U.S. Equity & Crypto(03:28) August 25 - till now: Long Gold & Global Diversification(06:28) Deep Dive U.S. Market’s Changes(07:18) Why Investors Diversifying from U.S. Dollar-backed Assets(08:36) 2026 Outlook and Key Factors to Monitor: Tariff, Liquidity, AI and Credit Issues(11:51) Will Gold Rally Continue and Why(13:46) Gold and Chinese Currency RMB in Global Trade(15:49) China and its U.S. Treasury Holdings(17:51) Why is the dollar weakening(19:25) Which Assets will Benefit from a Weaker Dollar(21:42) Views on Bitcoin and Strategy and Why he is Bearish(24:33) Liquidity Issue and Solutions(28:06) Kevin Warsh, a Good Pick? Why the Market Sell-off? Fed & Treasury Working together?(32:13) Cut or No Cut by FedFollow me: X: @CocoKeeSubscribe to my newsletter: worldledger.substack.com

What does a veteran macro investor see that most people are missing heading into 2026? My guest Shengbei, who correctly called the gold trade, the dollar selloff, and the post-August liquidity squeeze, returns to World Ledger to break down what's really driving markets right now.  From gold's decade-long structural tailwind and the de-dollarization quietly reshaping global trade, to why he turned bearish on Bitcoin and crypto, and what Kevin Walsh as the new Fed chair actually means for liquidity, this conversation cuts through the noise.  A must-listen for anyone trying to understand the macro forces moving real assets in 2026.Shengbei is the CEO of New York-based GSB PodiumAdvisors, with over two decades of experience spanning Morgan Stanley, Deutsche Bank, and senior investment roles at CITIC Securities — one of China's leading financial institutions.Follow: Shengbei GuoFollow: Coco KeeFollowing World Ledger: World Ledger newsletterTimestamps:(00:15) Introduction and Market Backdrop(01:16) 2025 Review (01:45) February - April 25, Sell Dollar & Risk Assets, Long Gold(02:24) April - August 25: Long U.S. Equity & Crypto(03:28) August 25 - till now: Long Gold & Global Diversification(06:28) Deep Dive U.S. Market’s Changes(07:18) Why Investors Diversifying from U.S Dollar - backed Assets(08:36) 2026 Outlook and Key Factors to Monitor: Tariff, Liquidity, AI and Credit Issues(11:51) Will Gold Rally Continue and Why(13:46) Gold and Chinese Currency RMB in Global Trade(15:49) China and its U.S. Treasuries Holding(17:51) Why Dollar Weakening(19:25) Which Assets will Benefit from Weaker Dollar(21:42) Views on Bitcoin and Strategy and Why he is Bearish(24:33) Liquidity Issue and Solutions(28:06) Kevin Walsh, a Good Pick? Why the Market Sell-off? Fed & Treasury Working together?(32:13) Cut or No Cut by Fed

I sit down with Devere Bryan, Group General Manager of First Digital, the company behind FDUSD stablecoin, and discuss the origins of First Digital, the creation and expansion of FDUSD, its partnership with Binance; Hong Kong's stablecoin sandbox and legislation, the reason they chose to move stablecoin business to BVI; the challenges facing stablecoin issuers and growth opportunities in emerging markets. Devere providesinsights into FDUSD's operations, crisis management, and future growth strategies, and its focus on Asia-Pacific regions. Timestamps:(00:00) - Opening Remarks(00:54) - Brief Introduction to Genesis of First Digital (FD)(03:23) - Hong Kong as a former Launchpad for Crypto Businesses(04:13) - Partnership between FDUSD and Binance(06:14) - FDUSD’s Asia Focus(08:07) - Promising Asian Markets and Emerging Utility for stablecoins, Case Study - Coins.ph(13:22) - Current Utility of stablecoin at This Stage(17:22) - FDUSD's Brief Depeg in April and How FD Handled it(23:04) - Hong Kong Sandbox, Stablecoin Bill and FD’s Decision(30:34) - Challenges in Operating Stablecoins(34:23) - Is Stablecoin Market Winner-Take-All(36:44) - Ways to Diversify Stablecoin Revenue(41:12) - How FD Identifies Growth Opportunities and Diversifies(45:04) - Dominance of Dollar-pegged Stablecoins(47:20) - GENIUS and its Impact on BVI, Cayman, Cook Islands, ADGM of Abu Dhabi(49:12) - Closing RemarksFollow worldledger.substack.comFollow Devere Bryan on LinkedIn

On one side, we have centralized storage solutions like AWS; on the other, decentralized platforms such as Filecoin and Arweave. Sitting in between is IPFS, a distributed, peer-to-peer network for data storage and sharing that plays a critical role in the decentralized blockchain ecosystem we're building. Yet, IPFS adoption remains limited, hindered by the high cost of on-chain storage and slow data delivery speeds.Kyle Tut, Co-founder and CEO of Pinata, offers arefreshing perspective. He doesn’t confine his company to the ideological extremes of either centralization or decentralization, nor does he tie it to any single blockchain. Instead, he takes a pragmatic approach to solving theindustry's real-world challenges.You’ll also want to hear his views on NFTs and Memecoins.While some dismiss them as “silly,” Kyle looks beyond the surface to uncover the genuine opportunities and innovation they will bring to the space. His strategies to navigate the volatility of Web3 and views about the next big thing forcrypto offer further insights I’m excited to share with my audience.Follow Kyle and Pinata on X: @kyletut | @pinatacloud; Follow Coco on Substack:  [email protected] , LinkedIn: https://www.linkedin.com/in/cocokee/ and X: @keeglobalTimestamps:(00:00) Opening Remarks, Omaha, Warren Buffett(01:25) Kyle Tut's Background and the Beginning of Pinata (04:48) Comparison of Pinata with Other Centralized and Decentralized Storage Solutions(07:37) IPFS and Its Unique CID and What It Means to Crypto Storage (09:21) Challenges Pinata Is Trying to Solve for Crypto Data Storage (10:37) What Is IPFS and Why It's Powerful (12:36) The Reasons Creators and Developers Use Pinata (15:19) Case Studies: OpenSea and Pump.Fun Partnership with Pinata (17:05) Why Centralized Storage Is Still the Majority of Data Storage (18:43) Pinata's Fee Structure (20:59) Kyle's Take on NFTs and Memecoins and Why They Are Important Regardless of Some Silliness (24:58) Other Market Opportunities: AI, RWAs, DePin, Gaming (31:21) Leading Hubs for NFTs and Memecoins Development (31:53) Strategies to Weather the Volatility of Web3 (34:52) Kyle's Contact Info and Closing Remarks

What happens when traditional finance (TradFi) principles meet the dynamic innovation of decentralized finance (DeFi)? In this episode, I sit down with Martin de Rijke, Head of Growth at Maple Finance, to explore the company's diverse yieldproducts, over-collateralized lending options, cross-chain Syrup offerings, and, most importantly, its risk management framework. Martin shares insights into Maple’s partnership with Cantor Fitzgerald, outlines the company’s growth strategy, and discusses how upcoming U.S. stablecoin regulations could impact firms like Maple. We also reflect on the previous cycle and the key lessons learned. Timestamps:(00:56) Opening Remarks and Self-introduction(02:40) Introduction to Maple Finance(04:05) Maple's Partnership with Cantor Fitzgerald(08:22) Maple's Business Explained in Detail(15:05) Risk Management Mechanism for Underwriting Loans(21:33) On-chain Pool for Lenders and Yield-bearing SyrupUSDC(25:30) Built on Ethereum SyrupUSDC also Live on Solana(26:21) Comparing Ethereum vs.other Chains Regarding TVL(27:17) Growth Strategies and New Products(31:47) Lessons Learned from the Last Cycle and Outlook for DeFi Lending(33:58) Differences in Borrowing & Lending between this Cycle and the Last Cycle(34:34) Implication of U.S. Stablecoin Regulations and whether non-USD Stablecoins Matter(35:46) Closing RemarksFollow me on X: @keeglobal Or on Substack: worldledger.substack.comFollow Martin on X: @martindrijkeFollow Maple on X: @maplefinance

In a recent podcast interview with World Ledger, Amik Ahmad, Head of Product at Autonomys Network, shares his insights on how Autonomys Network is built to scale and support the fast growth of AI3.0 and Web3, including agentic technologies, without compromising decentralization.  (00:00) Opening remarks(00:59) Amik’s Background and Responsibilities(03:50) What is AI 3.0?(05:21) Autonomys’ Layered Approach(07:08) AI3.0 vs. Centralized AI(10:12) Laying the Foundation for AI 3.0 and a Web3-Focused Future(15:23) Solving the Blockchain Trilemma(17:46) A Closer Look at Autonomys’ Solution to the Trilemma(20:04) Product Roadmap(22:20) Why Use MCP to Store Your Own Data in Centralized AI(24:55) Users Served by Autonomys(27:08) Challenges in Valuing Data and Compensating Data Contributors(28:40) Will We Run Out of Data for AI Training?(31:21) Why Build on Autonomys?(34:55) AI + Web3: Are They a Good Match? To stay updated, subscribe to worldledger.substack.com 

In this episode, I’m joined by Nick Forster, founder ofDerive, a decentralized crypto options exchange. We discuss his journey in launching Derive and his vision for the platform. We also exchange thoughts on the uniqueness of this market cycle, the impact of Coinbase’s acquisition of Deribit, U.S. regulations, Bitcoin Strategic Reserve, traders’ sentiment aboutBitcoin’s price on Derive, and more.Nick Forster founded Derive about 5 years ago. Before that, he worked as an equity options trader at Susquehanna International Group.  He studied mathematics and economics at St. Paul’s College, University of Sydney.Subscribe to my newsletter to stay updated: worldledger.substack.com00:00 Opening Remarks00:38 Nick’s Background and Introduction02:04 Introduction to Derive and How It Differs from Deribit04:34 Initial Challenges and Hurdles in Launching Derive06:32 Where Nick Found Tech Talent and Funding09:08 Competition10:17 Coinbase’s Acquisition of Deribit and Its Implications11:20 DEX vs. CEX and Derive’s Target Users13:57 Tremendous Growth Potential for DEXs17:15 Addressing Technical Limitations Like Execution Speed18:43 Ethereum Layer 2 vs. Layer 119:41 The Role of AI in DEXs21:44 U.S. Regulations and their Impact25:59 U.S. Market vs. Other Markets27:45 Strategic Bitcoin Reserve28:38 Where Bitcoin’s Price Is Headed This Cycle29:45 Is This Cycle Different from Previous Ones?

In this episode of World Ledger, I sit down with Dr. Sam Seo, Chairman of the Kaia DLT Foundation, to discuss the evolution of Kaia Blockchain. Dr. Seo traces the history and challenges of two independent blockchains: Klaytn, launched by South Korea’s Kakao, and Finschia, developed by Japan’s LINE, their decision to merge, and the creation of Kaia. Kaia leverages the reach of Kakao and LINE, two leading SuperApps in Asia with a combined user base of approximately 250 million. Dr. Seo shares Kaia’s vision, strategies, and tactics for driving Web3 mass adoption after the merge.  We alsoexamine the obstacles to Web3 adoption, strategies to overcome them, and the differing mindset and approaches between U.S. and Asian companies in building Web3 businesses.Timestamps:00:00 Opening01:12 Meet Dr. Sam Seo: Journey into Blockchain and Kaia03:23 The Birth of Kaia: Merging Klaytn and Finschia07:55 Comparing Kakao, LINE, Facebook, Telegram, and WeChat08:51 Post-Merger Restructuring and Positioning14:21 Applications Building on Kaia16:54 Improving UI/UX: Private Keys, Gas Fees, and Other Practices20:30 Kaia’s Strategies to Attract Web2 Users22:41 Major Hurdles to Web3 Mass Adoption25:09 Kaia and Stablecoins26:07 How Kaia Generates Revenue28:45 Differing Mindsets and Approaches to Web3: U.S. vs. Asia31:27 Building a New Chain vs. Using Existing OnesSubscribe to: worldledger.substack.com for updates.  

In this episode, I'm joined by Rachel Lin, CEO of Singapore-based SynFutures, a decentralized derivatives exchange (DEX).  We dive into the competitive landscape of crypto derivatives and explore both the strength and weakness of centralized and decentralized exchanges and the potential of AI integration with DeFi.  Rachel also offers valuable insights into DeFi regulations, token issuance strategies and RWAs.  She highlights the dilemma she and her team are facing: on one hand, they aim to uphold their commitment to true Web3 principles—full on-chain operations, transparent trading, and decentralized product listings; on the other hand, they grapple with slow execution times caused by the lengthy block intervals of existing public chains.She closes with reflections on the unique advantages and hurdles of being a female founder in the blockchain space.Episode Timestamps:00:32: Guest Background: From TradFi to Derivatives DEX01:55: Founding SynFutures02:30: Decentralized vs. Centralized Exchanges03:46: How SynFutures Compares to Deribit & dYdX06:47: Building a Derivatives DEX with the Amazon Model09:25: Key Challenges for Derivatives DEXs12:35: Why Product-Market Fit Is Crucial14:14: AI Integration with DeFi: Hype or Real Impact?21:44: Real-World Assets (RWA): Potential and Limitations27:03: Token Issuance: Smart Strategies and Pitfalls to Avoid29:00: DEX Regulations in particular what the Future Holds for SynFutures in the U.S. and Base’s Verified Pools31:28: Centralized vs. Decentralized: Strengths, Weaknesses & Lessons from SynFutures34:03: The Female Founder Experience: Unique Advantages and ChallengesMy newsletter： worldledger.substack.com My X: @keeglobal

In this conversation with Luca Prosperi, Co-founder and CEO of M^0, we discuss how M^0 is helping builders create stablecoins different from most of the existing ones such as Tether and Circle. M^0 is backed by Pantera Capital, Bain Capital, Galaxy Digital, Wintermute, SCB10X, GSR and others.Follow Luca's blog Dirt Roads: https://dirtroads.substack.com/Subscribe to World Ledger newsletter:https://worldledger.substack.com/Timestamps:00:00: Introduction 00:49: From TradFi to DeFi, from surviving blood cancer to becoming an entrepreneur 03:28: From Maker to M^0, successful fund raise 06:43: Maker‘s innovation and its limitations07:51: M^0‘s vision and aspiration 12:23: Use Stripe as an example to illustrate how M^0 works 15:22: Differences between Paxos and M^0 16:54: Clients and real use cases18:46: Opportunities and challenges with DeFi and traditional companies20:59: Address counterparty risks of traditional banks25:14: Real-time attestation of reserves25:46: Fees, yields, spread28:14: Embrace regulations and understand their limitations31:00: Tether and its future32:34: M^0 and its markets34:38: MiCA and GENIUS Stablecoin Bill37:26: Regulations and their potential impact on M^0’s growth38:08: Closing remarks

No better time than now to take a step back and explore the global economy from a broader perspective. In this engaging new episode, I sit down with Shengbei Guo, CEO of New York-based GSB Podium Advisors, to unpack some of the most critical economic developments shaping the world. With his unique experience spanning the U.S., Japan, and China, Shengbei brings a global lens to these complex topics.Here is what we cover in this episode:China’s economic challenges: We dig into the root causes behind its current struggles and what they mean for the global economy. Monetary and fiscal strategies: How is China working to revitalize its economy and what’s the potential outlook?Gold and Bitcoin rallies: We explore the driving forces behind these surges and what they signal for investors. The U.S. dollar’s dominance: Is its position as the world’s reserve currency under threat? We weigh the evidence.The global outlook: Shengbei shares his predictions for the economy and key asset classes moving forward.Follow Shengbei:LinkedIn: https://www.linkedin.com/in/shengbei-guo-9362811/X:https://x.com/Shengbei3Subscribe to my newsletter: worldledger.substack.comTimestamps:00:59 Challenges Facing China's Economy02:07 The Unique Growth Model of China04:48 The Turning Point: 202110:45 China's Transition to New Growth Engines16:53 Monetary and Fiscal Policies25:21 Global Trade and U.S. Dollar as a Reserve Currency27:28 The Gold Rally, Bitcoin and MicroStrategy39:17 2025 Economic Outlook and Asset Classes42:51 Conclusion and Final Thoughts

Converting or swapping assets between Bitcoin and other blockchains has never been easy. Often, people rely on third parties or bridges for assistance. These bridges are typically centralized and operated by a small number of validators, making them vulnerable to hackers and fraud. Moreover, Bitcoin asset owners must relinquish self-custody.I was joined by Niusha and Mahyar, Co-founders of TeleSwap, to discuss how they conceived the idea of TeleSwap and why they believe they have a better solution. Enjoy our conversation!Follow Niusha (@__nemo__omen), Mahyar (@mahyar_daneshpajooh) and TeleSwap (@Tele_Swap) on XTo stay updated, subscribe to my newsletter: worldledger.substack.comShow Notes:01:00 Introductions01:20 Two co-founders’ educational & professional backgrounds 06:21 TeleSwapbusiness concept genesis and development07:17 Pain points that TeleSwap addresses 10:00 Differences between trustless and centralized bridges; 11:27 Mechanism how TeleSwap works as a trustless bridge 19:36 Expanding TeleSwap's reach 22:09 Meme coins on Bitcoin 24:27 Teleswap’s user profile and hurdles to overcome33:50 Its competitors34:39 Investors and backers36:32 Recommendations for founders in different market cycles30:00 Their plans for TST39:44 Future vision, market sentiment, AI43:10 Closing remarks

Welcome back. I am Coco. BlockchainAsia has been rebranded as World Ledger.I am excited to share this new podcast episode featuring Xin Yan, co-founder of Sign. We discuss his journey from training as an electrical engineer to co-founding Sign, an omni-chain attestation protocol.We explore Sign’s product offerings, clients, and revenue model — yes, we talk about how to make money! Xin also shares his vision for Sign and the industry and the company’s fundraising experience, and offers advice for fellow founders.Founded in 2021, Sign is already profitable! Tim Draper wrote a blank check for the pre-seed round, and Sequoia’s U.S., China, and India entities all participated in its Seed Round. Most recently, Binance’s venture arm led Sign’s $16M Series A round. Notably, Sign does not have a token.Enjoy our conversation and discover why such prominent investors readily invested in Sign.01:35 Introduction and launch of the business03:50 Sign Protocol and Product Offerings – EthSign, SignPass, Token Table08:21 How EthSign works14:56 How SignPass works and its clients17:48 Adoption of blockchain technology and its impact on developing countries21:02 Examples of EthSign users22:44 Sign’s business model23:42 Token Table’s business model in detail26:49 How Token Table can help improve airdrop mechanism28:24 The role of Token Table in global markets outside of crypto32:17 The dynamics of different roles played by Sign Protocol and Token Table34:02 Target markets34:37 Fundraising journey from pre-seed to seed to Series A36:45 Advice for fellow foundersTo receive updates, subscribe to my newsletter: worldledger.substack.com

I officially launched BlockchainAsia Podcast in February 2024. Since then, I have interviewed eight insightful guests from the U.S., Europe, and Asia. These include the former CEO of Silicon Valley Bank, two C-suite executives of Taiwanese companies that deliver real-world use cases of blockchain, the founder of a Web3 incubator in Hong Kong, a partner from a VC Fund headquartered in Singapore, the Founder and CEO of Malaysia’s first licensed digital asset fund manager, and the Head of Capital Markets for the Nasdaq-listed first ASIC bitcoin mining rig manufacturer headquartered in Singapore. I've collected some highlights to showcase these engaging conversations. To stay informed, subscribe to my free newsletter The information in the podcast is for educational and informational purposes only, not investment or financial advice, and the speakers' views are their own.

In this episode, I explore AI technology to convert one of my blog posts into a podcast! Any differences between my written post and the AI-generated audio version do not necessarily reflect my views To stay updated, subscribe here.

Many people still remember Silicon Valley Bank's sudden collapse affected a significant number of technology companies, including the stablecoin platform Circle, which had $3.3 billion in cash reserves deposited at SVB. In this episode, I sit down with Ken Wilcox to understand the root causes of Silicon Valley Bank’s downfall and some lingering questions, e.g. why all the lines of defense failed, and why regulators were not more forceful despite being aware of the warning signs. Ken Wilcox was the CEO of Silicon Valley Bank (SVB) from 2001 to 2011, then the CEO of SVB's joint venture with Shanghai Pudong Development Bank (SPDB-SVB) in Shanghai until 2015, followed by four years as its Vice Chairman. He is the author of "Leading Through Culture: How Real Leaders Create Cultures That Motivate People to Achieve Great Things" and The China Business Conundrum (Wiley, 2024) Ken’s Substack Musing on the Middle Kingdom and More To stay informed, subscribe to BlockchainAsia Show notes -Introduction -Understanding loan-to-deposit ratio -Impact of COVID-19 on Silicon Valley Bank -Problem of excess Deposits -Long-term Treasury Bonds -Bank run and social media -Reflections on failures across all lines of defense -Importance of banking culture and risk control -Alternatives to Silicon Valley Bank and the joint venture in Shanghai -Conclusion and new book announcement

This special episode features Coco's observations and findings from her trip to Hong Kong and Mainland China. - Hong Kong's geographical advantages to becoming a Web3 hub; its unique role as a testing ground and development center of Mainland's ambition to be a key player in Web3 - Economy in Mainland China - 20% of Bitcoin's hash power in China - Central government's potential change of plans to legalize crypto assets and the catalysts driving the change Follow BlockchainAsia on Substack to stay informed. https://blockchainasia.substack.com/

The market is grinding, sentiment has turned bearish, and many are now asking: 'Is the bull market coming to an end?'" Join me in welcoming back Jupiter Zheng, HashKey Capital, for a timely session about Bitcoin, cryptocurrency, and digital asset valuation based on the book “Digital Asset Valuation Framework” by HashKey Capital. We explore the methodologies used in valuing digital assets, debunk common skepticism, and discuss the intriguing predictions from industry leaders like Cathie Wood. Learn about the NVT, MVRV, and stock-to-flow models used to evaluate Bitcoin and discover valuation models for Ethereum and other Layer 1 public chains. We also look at the current market trends and what the future holds for crypto assets. --------- 00:00: Introduction, skepticism surrounding Bitcoin and crypto’s long-term value 02:33: “Digital Asset Valuation Framework” book overview Published April 2024 Fusion of existing crypto valuation methods with traditional beta models Categories of digital assets and corresponding valuation methods 04:56: Bitcoin valuation framework, key principles and metrics 08:48: Zoom in on the following methods NVT MVRV and its relevance to predicting the crypto market cycle Stock-to-flow Evolving valuation methods as Bitcoin is undergoing changes 15:16: How does Cathy Wood project $1M Bitcoin price by 2030 5% allocation of global investable assets Impact of BTC spot ETF Parallels of BTC ETF and price and Gold ETF and price Key milestones for Bitcoin to cement its status as “digital gold” 19:08: Ethereum and smart contract Layer 1 valuation DCF Quantify network security and incorporate it into valuation models Commonalities and differences between Ethereum and its competitors, e.g. Solana (Ethereum killers) to be considered when calculating DCF 24:06: Data’s reliability and availability for building valuation models Glassnode/Kaiko/Coin Metrics/Nansen/CryptoQuant 26:26: Warrant Buffett’s mental framework when evaluating stocks and assets His skepticism about gold’s value Different investors' perspectives on the value of cash-flow-generating and non-cash-flow-generating investment assets Bitcoin as an alternative financial system 30:27: Current cycle - where are we now and outlook What MVRV tells us Industry’s consensus about Bitcoin’s price in this cycle BTC spot ETF’s impact on this cycle Why ETH is underperforming, how about the altcoins Market sentiment and outlook 33:36: Closing Subscribe to my free newsletter for updates: https://blockchainasia.substack.com/ This discussion session is for educational and informational purposes only, not investment or financial advice, and the speakers' views are their own.

This is a special episode. I put together a trail of the past 10 episodes of BlockchainAsia Podcast. Revisiting these conversations, I have to say they remain very relevant and insightful. If you've missed any episodes, you can catch up on Apple Podcasts, Spotify, Amazon Music, or YouTube Podcasts. Don't forget to subscribe to my newsletter: https://blockchainasia.substack.com/  

In this episode, Vera Wu, COO of Numbers Protocol & Capture, founded in 2019, explains how Numbers leverages blockchain to verify the authenticity and origin of digital content, ensure content’s traceability, and empower content creators. She also shares their collaborations with Reuters and Stanford's Starling Lab in documenting important historical events on blockchain, and their technology was used in Taiwan 2024 election, as well as in the elections in Hong Kong, India and Indonesia to fight disinformation and misinformation. She introduces in detail the practical tools offered by Numbers. Numbers is backed by some notable investors including Protocol Labs and founders of YouTube and Twitch, as well as a Silicon Valley VC fund’s general partner.   ·       00:00 Introduction and Welcome ·       00:13 Vera's background and journey into blockchain ·       01:34 Overview of Numbers Protocol ·       02:59 Details of Numbers’ blockchain and its cross-chain standards ·       03:57 Numbers’ partnerships and use cases ·       05:59 Addressing trust issues in digital content ·       07:16 Tools and solutions for content verification ·       13:17 AI-Generated content and provenance ·       15:22 Target users and market expansion ·       23:46 Regulatory landscape in Taiwan and Ethical AI Alliance ·       27:04 Conclusion and contact information Numbers Protocol Website/Discord/TG group (English) Ethical AI Alliance Follow Vera Wu’s LinkedIn To stay informed, subscribe to my ⁠free newsletter⁠ Disclaimer: The content in Blockchain Podcast is for informational and educational purposes only, represents personal views and opinions, and does not constitute investment advice or recommendations.

In this episode of BlockchainAsia Podcast, I have an engaging dialogue with Ioana. Our conversation explore a diverse array of topics, from the gradual adoption within large financial institutions to the merits and drawbacks of the EU's regulation-centric approach. We dive into what makes the Middle East an appealing destination for founders worldwide and compare the contrasting execution mentalities between Asian and European startups. She sheds light on Domin Network's unique offerings, illustrating how NFTs are evolving beyond speculative collectibles into practical tools for enhancing brands in a scalable manner, along with the company's growth plans. Ioana also provides insights into events such as Dubai Token2049, Paris Blockchain Week, and NFT:NYC. Ioana's professional journey, from the European Parliament to Citigroup, and now with Domin Network, is connected by a common theme: a quest for innovative frontiers, with blockchain and crypto emerging as the focal point. Follow Ioana on LinkedIn and X To stay informed, subscribe to my free newsletter Disclaimer: The content in Blockchain Podcast is for informational and educational purposes only, represents personal views and opinions, and does not constitute investment advice or recommendations.

Hann Liew, Founder & CEO of Halogen Capital, Malaysia's First Licensed and Shariah-Compliant Digital Asset Fund Manager, joins this episode of BlockchainAsia Podcast and discusses: - Why he chose to launch a digital asset fund after exiting a Fintech company he founded and built for more than 10 years - The key regulatory event in Malaysia that has been beneficial to the country’s crypto market - How his Web2 Fintech expertise becomes an advantage for his new fund - What he learns about retail and institutional investors in Malaysia when distributing his new fund - What impact U.S. BTC spot ETF has had and Hong Kong’s ETFs will have on Malaysia’s crypto market - What is a Shariah-compliant fund and why it offers a unique value proposition - Things that people may not be aware of about Malaysia, e.g., one of the top 10 Bitcoin mining countries To learn more about Halogen Capital, visit its website, follow Hann Liew on X (@ooihann) To get more content in our inbox, subscribe to the free newsletter blockchainAsia.substack.com

In this episode, I sat down with DY, General Manager of Wanxiang Blockchain Labs, and Founder of Future3 Campus, a Web3 incubator, to discuss His background and joining Wanxiang as the first person to specialize in blockchain Wanxiang Blockchain’s early research in blockchain and its instrumental support for the Ethereum Foundation in 2015 Future3 Campus, the Web3 incubator, overview, its mission and areas of focus Why Future3 Campus thinks it critical to attract more Web2 developers and entrepreneurs to Web3 and its approach to doing so TON Foundation’s effort to attract WeChat mini app developers to build on Telegram’s Web3 project Why he thinks DePin to Web3 will be similar to BTC ETF to Bitcoin How blockchain technology and Web3 bring more potential to AI development What criteria Future3 Campus is looking for in applicants for its cohorts Hong Kong’s role as a hub for Web3 in Asia ->Follow DY on X (https://twitter.com/DUYU_ETH) ->To apply for Future3 Campus’ cohorts, visit their website (http://www.future3.io/#/home) or X (https://twitter.com/Future3Campus) For more content to your inbox, subscribe to my free newsletter: www.blockchainasia.substack.com

With the 4th Bitcoin halving approaching, I interview Leo Wang, Head of Capital Markets and Senior Director of Investor Relations at Canaan, a NASDAQ-listed company, that manufactures Bitcoin mining rigs. This engaging conversation delves into several intriguing questions: 1) What led an M&A lawyer to transition into a mining machine company? 2) How did a Ph.D. student in China come across Bitcoin, and become an "OG" and a pioneer of ASIC mining machines? What became of Butterfly Labs? 3) What are the predominant challenges facing leading mining machine manufacturers such as Canaan, Bitmain and MicroBT? How is Canaan competing with the dominant player Bitmain? 4) How does each Bitcoin halving impact Bitcoin price, market dynamics, and the operations of Bitcoin miners and mining rig manufacturers? 5) Which country/region is contributing the most hash rate after China lost its dominance? 6) With each halving event, is centralization an inevitable occurrence for the Bitcoin mining industry? To stay updated, please subscribe to my newsletters on Substack To contact my guest of this episode Leo Wang, his LinkedIn & Twitter Disclaimer: The content in Blockchain Podcast is for informational and educational purposes only, represents personal views and opinions, and does not constitute investment advice or recommendations.

Coco talks with Jupiter Zheng, Partner, HashKey Capital Liquid Fund & Research, about HashKey Capital's newly launched liquid fund, crypto market's alpha and beta, risk management in altcoin investment, his perspectives of the market, Hong Kong, and more. To stay updated, subscribe to ⁠BlockchainAsia newsletter⁠ ++ The interview content in BlockchainAsia Podcast is for informational and educational purposes, represents personal views only, and does not constitute investment recommendations. The content is provided to you and owned by Kee Global Advisors.

This episode is Asia Market Update. You will learn about why China is becoming increasingly relevant to crypto, investment deals, and regulatory developments in Asia. To stay updated, subscribe to BlockchainAsia newsletter ++ The interview content in BlockchainAsia Podcast is for informational and educational purposes, represents personal views only, and does not constitute investment recommendations. The content is provided to you and owned by Kee Global Advisors.

In this Episode, Asia Reporter of TechCrunch Rita Liao shares her insights on China's evolving technology innovation landscape, explores reasons behind the decline of China's consumer tech sector and the simultaneous rise of new sectors such as EV, enterprise software, semiconductors and Biotech. We also discuss Hong Kong's changing stance towards cryptocurrency and what the implications for retail investors in Mainland China and Hong Kong. This episode was first published on BlockchainAsia@Substack To stay informed, subscribe to BlockchainAsia's newsletter on Substack. ++ The interview content in BlockchainAsia Podcast is for informational and educational purposes, represents personal views only, and does not constitute investment recommendations. The content is provided to you and owned by Kee Global Advisors.

Sean and I sat down to talk about where Hong Kong and other Asian countries stand compared with the U.S. in crypto regulations, why he was not surprised by Hong Kong's decision to embrace crypto, and how U.S. companies could turn regulatory challenges into an opportunity to push for global diversification. To stay informed, subscribe to BlockchainAsia newsletter. ++ The interview content in BlockchainAsia Podcast is for informational and educational purposes, represents personal views only, and does not constitute investment recommendations. The content is provided to you and owned by Kee Global Advisors.

In January 2023, I conducted an interviw with Jonathan Bier, the author of the Blocksize War: the Battle over who Controls Bitcoin's Protocol. Through the book, we have the opportunity to relive the time when Bitcoin was going through a critical moment. Jonathan requested to share our conversation only in text format. With his permission I published the interview in my newsletter BlockchanAsia@substack To stay informed, subscribe to BlockchainAsia newsletter. Now with the AI technology, I am converting the text into voice and create this episode of Podcast. ++ The interview content in BlockchainAsia Podcast is for informational and educational purposes, represents personal views only, and does not constitute investment recommendations. The content is provided to you and owned by Kee Global Advisors.

Curt Shi, Founding Partner of ProDigital Future and an early supporter of STEPN, a Web3 move-to-earn app, shares his fascinating journey in entrepreneurship and investments. Originally from China, he transitioned from Web2 investments in the fitness sector to Web3 after settling in Australia, where he connected with the founder of STEPN, Jerry, also an immigrant from China. Curt's diverse background and global investment footprint make this interview a compelling exploration of his experiences and insights. In this candid conversation, we talked about: - How did he stumble upon STEPN and why did he write the founder a check after their first meeting? Looking back, what does he think STEPN could have done differently? - Why did he and his investment team turn down a Bitcoin mining investment opportunity? - What are some distinctive differences and commonalities between Web2 and Web3 investing? - What are the similarities and differences between China, the U.S., and Australia in terms of entrepreneurship and Web3? This interview was first conducted and posted on BlockchainAsia's newsletter in October, 2023, before BlockchainAsia Podcast was launched. Welcome to subscribe to the BlockchainAsia newsletter to stay updated. ++ The interview content in BlockchainAsia Podcast is for informational and educational purposes, represents personal views only, and does not constitute investment recommendations. The content is provided to you and owned by Kee Global Advisors.