Token 2049, one of the largest crypto conferences in the world, recently took place in Singapore, attracting a record-breaking number of attendees. The two-day event saw 10,000 attendees, 300 speakers, and 5,000 companies gather at the Marina Bay Sands Convention Expo and Center.
The conference featured a main show, as well as over 400 side events, where industry leaders discussed the latest developments and trends in the blockchain industry. One of the biggest announcements came from KXVC, a subsidiary of Kasikornbank, the largest bank in Thailand. They launched a $100 million fund dedicated to Web3, AI, and deep tech firms based in Southeast Asia.
The fund will focus on investing in Web3 infrastructures, AI startups, and problem-specific AI solutions. It will be led by Krating Poonpol, the group chairman of Kasikorn Business Technology Group, and Jom Vimolnoht, the managing director of KXVC. Poonpol and Vimolnoht bring extensive experience in venture capital and startup investments, making them well-equipped to lead the fund.
Another significant development came from Mantle Network, an Ethereum layer-two scaling solution, which announced a $200 million development fund for ecosystem acceleration. The fund will support projects like LiquidX, Valent, and Range Protocol, which are focused on building Web3 companies, exploring derivatives finance, and creating on-chain asset management platforms.
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CoffeeDAO, a decentralized autonomous organization, also made headlines at the conference. The organization is partnering with cafes around the world to unlock their market potential in exchange for free coffee. Customers can receive free coffee by scanning a barcode and receiving COFFEE tokens minted on Polygon. These tokens can then be exchanged for coffee or spent at other participating cafes. The concept aims to empower local, community-based cafes and provide them with a competitive edge against larger chains.
In other news, cryptocurrency exchange Huobi Global announced a rebranding, changing its name to HTX. The new name represents the first letters of Huobi, Justin Sun’s blockchain project Tron, and the exchange’s 10th anniversary. The rebranding aims to further the exchange’s global expansion and enhance its ecosystem, while also addressing pronunciation difficulties for non-Chinese users.
The conference also brought some justice for Zhu Su and Kyle Davies, co-founders of Singaporean crypto hedge fund Three Arrows Capital (3AC). The Monetary Authority of Singapore (MAS) reprimanded both Zhu and Davies, barring them from enterprise activities in the city-state’s regulated capital markets for nine years due to misconduct. This includes providing false information to MAS and exceeding the allowed assets under management threshold for a registered fund management company.
Overall, Token 2049 showcased the rapid growth and innovation happening in the blockchain industry, with significant announcements and developments from various companies. The conference highlighted the increasing interest and investment in Web3, AI, and deep tech firms, as well as the potential for blockchain technology to revolutionize various industries.
