COINDESK DAILY: HSBC Brings Tokenized Gold to Hong Kong; Munchables Exploited for $62M
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 27 March 2024
⏱️ 2 minutes
🧾️ Download transcript
Summary
Host Jennifer Sanasie breaks down the latest news in the crypto industry from HSBC's tokenized gold product in Hong Kong to the latest exploit at Web3 project Munchables.
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"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as HSBC brings its tokenized gold product to Hong Kong, claiming bragging rights for being the first bank to create a blockchain-based real-world asset aimed at retail investors. Plus, Fetch.ai, SingularityNET, and Ocean Protocol agreed to combine their crypto tokens into one, and Web3 project Munchables was drained of an estimated $62.5 million worth of ether.
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This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.
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Transcript
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| 0:00.0 | HSBC is tokenizing gold for everyday investors in Hong Kong and claiming bragging rights as the first bank to create a blockchain-based real-world asset aimed at the retail marketplace. |
| 0:13.9 | The tokenized gold product is available via the HSBC online banking and HSBCHK mobile app. |
| 0:21.1 | In a statement, the HSBC Hong Kong head of wealth and personal banking, Maggie Ing, said, |
| 0:26.2 | quote, we are proud that HSBC gold token powered by HSBC Orion is the first retail product in Hong Kong |
| 0:33.6 | that is based on distributed ledger technology as authorized by the securities and futures. |
| 0:39.2 | Commission, end quote. |
| 0:41.3 | Three firms are seeking to create an AI collective to provide a decentralized alternative to |
| 0:46.5 | existing projects that are controlled by big tech. |
| 0:50.0 | Fetch AI, Singularity Net, and Ocean Protocol agreed to merge their tokens in order to create the alliance for decentralized AI. |
| 0:57.7 | Native tokens of all three firms will be merged into a new token called ASI, which stands for artificial superintelligence. |
| 1:05.3 | ASI will have a fully diluted market cap of around $7.5 billion. |
| 1:10.5 | Endweb 3 Project Munch, suffered a hack that resulted in $62.5 million worth of |
| 1:17.3 | ether lost after a contract was maliciously manipulated. |
| 1:21.4 | Munchables said on X that the developer had shared all private keys to recover the funds. |
| 1:26.3 | Blockchain sleuth, Zach, XBT, said the attacker was likely North Korean based on their GitHub commit activity. |
| 1:32.8 | They are listed on GitHub as werewolves 0493 and allegedly worked for the Munchebles team. |
| 1:39.3 | Several crypto developers and traders called for a chain rollback to help recover the funds. |
| 1:44.1 | A rollback reversed as a series rollback to help recover the funds. A rollback |
| 1:44.7 | reverses a series of confirmed transactions and is typically done to undo the effects of a hack |
| 1:50.2 | or other malicious activities that result in theft. That's it for CoinDesk Daily. Get more updates |
| 1:56.6 | on CoinDesk.com and we'll see you next time. |
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