🌟 Checkout our Cast for the Movie
What Crypto Rich Asians are reading.
Crazy Rich Asians is the newly released movie that every. Asian. person. is talking about. For those of you who may not be aware of it’s importance to the Asian (American) community, it’s the first Asian all-cast mainstream movie in the US since the Joy Luck Club. But, alas, the $$ theme was there, but the Crypto theme was missing. Why couldn’t these guys make the movie even more relatable?
This is my version of Crypto Rich Asians
If we had a Crypto Rich Asians movie and the cast reflected real world Crypto Rich Asians, the story and plot would have been so juicy. Here are the people I’d like to see on screen. These guys are in no specific order, because once you have over $1bn in net worth, does it really matter how much more money you have? I am sure many people in Crypto will disagree with me on this one. ¯\_(ツ)_/¯
- Jihan Wu and Micree Zhang of Bitmain- with Bitmain supposedly looking to IPO in the range of $40-$50bn, Jihan and Micree will make the most out of it. The company didn’t give away too much equity given that they didn’t raise a series A until 4 years after the company started.
- Zhao Changpeng of Binance- CZ has a co-founder named He Yi who is responsible for marketing and business, but he probably owns majority share of Binance. Whether the market is up or down, Binance will always have business, and CZ will always win.
- Li Xiaolai of INBlock- with him admittingly earning 200x from his EOS investment, we think he is probably doing ok. On EOS: “We spent $1.5 million for 5% of the stock at a valuation of $30mn USD. Now it is worth $6bn USD, a 200x. This one project alone will probably make me the world’s best angel investor in 2017, because it’s growing so fast”
- Da Fei Hong — Neo founder, been there since the early days of Crypto in China
- Justin Sun — with Tron’s token market cap at $1.5bn and Justin Sun’s business savviness, we don’t think Tron will go away anytime soon
- Litecoin- Charlie Lee. Now that he’s sold all his litecoin, he realizes that it wasn’t the right decision
- Bo Shen — Fenbushi Partner, with Vitalik being an advisor to the fund
- And many more…. I am probably missing too many. There’ll have to be sequels.
- who do YOU think should be on the list?
🌟 Top News in Asia from Wednesday through Friday
Binance LCX, a joint venture between Binance and Liechtenstein Cryptoassets Exchange is the launching of a fiat-to-crypto exchange. http://bit.ly/2vSS7mH
As of August 7, 2018, there are 274 legal cases related to cryptocurrency in China. Most recently, Chinese courts made its decision without directly discussing whether Bitcoin trading platform is illegal. http://bit.ly/2vPU3N4
How $1 billion line of credit from Chinese investors China Jiangsu International helped launch Akon the singer in Africa and subsequently now Akoin. http://bit.ly/2OKH6uC
A series of new tweets are fueling speculation that Binance is about to make a big move with XRP. http://bit.ly/2OKlEpO
💰 Deals and Venture
SFOX, a cryptocurrency dealer for high-volume traders and institutional investors, has raised $22.7 million in a Series A funding round led by Tribe Capital and Social Capital. http://bit.ly/2MxagQE
Exchange Huobi has made a significant investment in the US-compliant security token trading platform OpenFinance Network. http://bit.ly/2ONqiUa
Krungsri Finnovate, a venture capital fund of Krungsri (Thailand Bank of Ayudhya) committed to invest in Japan’s SBI AI & Blockchain Fund, marking its fourth deal since inception. http://bit.ly/2vVqkSE
Dymon Asia Ventures has hit the final close for its maiden $50-million fintech-focused fund. http://bit.ly/2OHnpnF
Sino-US investment firms are targeting over $4 billion for new funds launched this year. GGV registered a $1.8bn fund with SEC. https://tcrn.ch/2vUfoVt
Japanese social messaging app LINE announced the creation of a $10 million blockchain venture fund. http://bit.ly/2vZN8kv
💰 Coin and Token News
Official launch of ICX Station, a global accelerator program sponsored by the ICON Foundation. http://bit.ly/2MEJtSJ
Ripple ‘definitely’ wants to target China with its blockchain-based payments tech, exec says. https://cnb.cx/2L1OQXd
💸 Exchange News
Chinese exchange Huobi and its partners are launching cryptocurrency exchanges in five regions: the Philippines, Russia, Taiwan, Indonesia, and Canada. http://bit.ly/2vRWfUd
Huobi launches brand new HADAX 2.0 including Huobi Automated Listing Platform, Huobi Show Center for Blockchain Projects and HADAX Public Voting Platform. http://bit.ly/2KZ39f3
🎌 Regulation News
*China Media* Shanghai Municipal Government signed a strategic cooperation agreement with Alibaba and Ant Financial to upgrade the area with innovation and manufacturing upgrade, including blockchain initiatives. Google translated
Thai regulators have so far approved seven business entities to conduct cryptocurrency operations as part of the formalization of the country’s domestic market. http://bit.ly/2MAZwAL
Throughout the past two months, investors in the local crypto market of South Korea have continuously expressed their optimism towards a drastic change in the regulatory landscape of crypto. http://bit.ly/2MAAqSG
Cryptocurrency exchanges in South Korea have condemned their exclusion by the country’s government from the classification of venture firms. http://bit.ly/2vUcj7L
💼 Business News
Chinese retailer JD.com is launching a new blockchain technology platform to help enterprise customers build, host and use their own blockchain applications for operations management. http://bit.ly/2vRYl6x
State-backed Bank of China and financial services corporation ChinaUnionPay have entered into a partnership to explore blockchain for payments. http://bit.ly/2MAfNGb
CoinDrop, a service that helps anyone easily receive “airdrops” of cryptocurrency. http://bit.ly/2MxNrMx
Chinese miners exiled to Russia, Kyrgyzstan, Mongolia, anywhere with cheap electricity. http://bit.ly/2vUlO74
American seed accelerator Y Combinator appointed Baidu’s former COO Lu Qi as its CEO. http://bit.ly/2MEKNoF
Chinese games are rapidly eroding the Korean market. It is happening while China blocked the distribution of new Korean games in China. http://bit.ly/2MAMkM8
What did you guys think of our Global Coin podcast thus far? What do you want to read or learn more about on Asia?
Check our past 7 weekly pieces on Southeast Asia Cryptocurrency Developments, A Guide to Asia Crypto funds/investors, Takeaways on Asia Crypto from Techcrunch Zug, Cryptokitties, Binance, Bitmain, and China’s Crypto winners