Binance’s CEO might be the most powerful person in crypto. This week, he sent a token’s price plunging when he announced that the exchange would remove Bitcoin SV, in response to the token’s most prominent backer’s repeated (and widely disbelieved) claims that he is Satoshi Nakamoto, bitcoin’s creator. Other exchanges quickly followed suit, a reminder of the influence that one company can have in the supposedly decentralized world of crypto.
Binance, the world’s largest crypto exchange, is one of a handful of companies proving that Asia is fertile ground for crypto, even as Chinese regulators put the brakes on the industry. Below, The Information’s Asia bureau chief Shai Oster has an exclusive look at a new company, backed by high-profile investors, betting that Asia’s appetite for decentralized finance will continue to grow.
In other Asia crypto news, ConsenSys has been courting investors in Hong Kong and South Korea, where it could find greater traction as it looks to raise $200 million in outside capital, Jon reported this week. We will be keeping close tabs on its efforts, which will have important implications for the future of Ethereum.