Things we learned from TOKEN2049: 🔹Web3 & DeFi continue to draw a massive brain gain 🔹Builders are clearly continuing to buidl for the future Let's take a deeper look into what happened during Asia’s biggest crypto event in 2022 🔥
Crypto might be in a bear market — with $2 trillion in value lost since November 2021’s peak — but the demise of the industry has been anything but exaggerated. That was the key message if you were in Singapore last week, where over 7000 movers and shakers and more than 2000 crypto companies descended on the city state from Sept. 26 to Oct. 2.
This is the first Singapore edition for Token2049, previously held annually in Hong Kong with an end-of-year edition in London. The switch from Hong Kong to Singapore comes after 2 pandemic-induced cancellations the last two years in HK and the faster lifting of Covid-related entry restrictions into Singapore, amongst other considerations.
This doesn’t mean the country is turning a blind eye to crypto’s darker side. Both Ravi Menon, managing director of MAS, and Sopnendu Mohanty, its chief fintech officerthat they are monitoring how trading firms attract retail investors and that rampant speculation will not be tolerated. Menon worryingly went further in a separate conference with the Fed’s Jerome Powell and ECB’s Christine Lagarde, saying that he didn’t see any redeeming qualities in cryptocurrencies.
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