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Crypto Winter’s Night King Spends Big to Reanimate the Industry

Aug. 17, 2022, 8:00 PM

The so-called crypto winter has wiped out $2 trillion in digital currency market value since November, and many investors have gone into hibernation. Yat Siu, the head of Hong Kong-based Animoca Brands Corp., is on the offensive.

Animoca, Asia’s biggest investor in blockchain projects, is assembling a vast portfolio of finance, gaming, and social media companies, more than 340 in all. The goal, says Siu, is to give people ownership over their virtual properties and break up the empires of Meta Platforms Inc. and Microsoft Corp., which he describes as “digital dictatorships.”

Animoca’s Crypto Gaming Ambition

Siu’s strategy was informed ...