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"Incredibly moved and grateful" - Clair Obscur: Expedition 33's director talks success, "art house" aspirations and the scope of future projects
Game Reviews

“Incredibly moved and grateful” – Clair Obscur: Expedition 33’s director talks success, “art house” aspirations and the scope of future projects

by admin October 9, 2025


Since the release of the celebrated and critically acclaimed RPG Clair Obscur: Expedition 33, key members of the development team at Sandfall Interactive have been on something of a global victory tour. The game is indebted to the Final Fantasy series and FromSoftware’s Souls games among others, and now the team have finally met their heroes.

“We met so many inspiring and great people,” director Guillaume Broche tells me, “so many legends of the industry and the games we play and adore. It was always very chill, actually. It was really just about sharing philosophies on how to make games and the games industry in general.”

Broche wasn’t nervous about meeting his heroes. “They’re actually very cool,” he says. “All the big directors we met, and even the smaller ones that we really love, we all speak the same language [of games].”

Clair Obscur: Expedition 33 | Launch TrailerWatch on YouTube

Indeed, where players have made countless comparisons between Expedition 33 and the iconic long-running franchises it’s inspired by, the developers themselves are supportive of one another. “It’s cool to see that among directors and people who make games, even on a technical level, on the producing level, really it’s about sharing and making the best games possible, and there is no real sense of competition,” says Broche. “It’s more how we can elevate each other to do our job better. And that’s a really great feeling I want to convey, because from the exterior it looks like everybody’s at each other’s throat, but really that’s not the case at all.”

One competition that remains this year, however, is Game of the Year, and so far Expedition 33 is seemingly one of the frontrunners. Broche describes the positive reaction to the game as “surreal”, as he didn’t expect it to be quite so far-reaching.

“I was saying before the game launched, we are going to find our niche and the players who love the game will really, really fucking love the game, but we are still expecting it to be a very small percentage of gamers,” he says, alluding to the expected popularity of turn-based games ahead of the game’s release.

“It exploded far beyond that. We are incredibly moved and grateful at how big it got and how it emotionally resonated with people.”

“I think the first shock was when we discovered the meta score,” adds Tom Guillermin, CTO and lead programmer. “There are so many great games that we look up to that are in that range of score. So when we discovered that, everybody was screaming with joy in the studio. It was such an emotional moment.”

Image credit: Sandfall / Eurogamer

The huge success of the game is a remarkable achievement for a debut game from a small studio. But that success, Broche and Guillermin assure me, isn’t going to change the studio – its size, the way it operates, or its future projects.

After Expedition 33 was released, there arose plenty of debate about the size of the team at Sandfall (while the core development team was around 30 people, there was additional outside help in animation, QA testing and more). So should the studio be considered indie, AA, or does it even matter?

“We don’t really care, to be honest. We are very much independent on everything we do,” admits Broche, noting publisher Keplar provided assistance. “I’d say probably the most accurate would be triple-I, because we are not really small, but we are also on the very lower end of AA production budgets and team size. We are not bothered that much by any classification, it doesn’t really matter.”

Broche describes Sandfall Interactive as a “small art house, where we make games that we love and want to play”. And that will continue, even despite its success, as it allows the team to take risks, be agile, and innovate.

“We know how to make a game with a team our size, a game we love, so that’s something we want to do again,” he says. “We don’t plan to grow the company that much…even for the next game. We don’t necessarily want to make something bigger. We want to make something as good, if not better, and that’s all that matters. The size is not really important, I think.”

Perhaps this is a lesson the industry could learn this year. Amid exploding budgets, creative ruts, and the desire for ever-growing profits, here is a studio working within its limits to deliver a passion project that players have responded to in their millions.

Image credit: Sandfall / Eurogamer

As such, I asked Broche about the scope of the project and how the design team decided what should be included. Being a small team, he says, meant they could adapt quickly, but initially Expedition 33 was Broche’s project and was intended to be created by an extremely small team which naturally led to a clear focus.

What’s more, the JRPG style of the game lent itself to a manageable scope. Turn-based combat, for instance, is “easier to do, in a way, than pure action games”, says Broche. “I would say it’s also a lot of happy accidents, because the kind of game I really love, they tend to take a lot of shortcuts – like JRPGs – and so the general game also matches very well with the size of the team. We would have struggled a lot more, of course, if we’d done a big open world with thousands of quests.” The use of a world map, too, allowed for agile development as it’s easy to slot in new areas.

“I think the most important thing is to define what your game is at the beginning and have a very strong vision at the very beginning so you know exactly what you want and what you don’t,” concludes Broche.

Guillermin adds there were very few features developed that didn’t make it to the final game, owing to that clarity of vision. Then, as the team grew, designers “had a lot of freedom to create a lot of content from the building blocks that we were providing them”.

“I think the most important thing is to define what your game is at the beginning and have a very strong vision.”

This is why, then, the game offers a turn-based combat system with such depth, while exploration is more linear, without offering the complex dungeons and puzzles of other games in the genre.

“It’s funny, we tried at some points to add puzzles and everything and it just didn’t fit at all with the game,” says Broche. “It felt completely off and broke the rhythm that we want for the game and made it less tight. I think it would have been great for the length of the game, because people would have been stuck for hours. But overall, we wanted something that is shorter than traditional RPGs and more packed in terms of rhythm and cutscenes and story and the battles.”

Image credit: Sandfall / Eurogamer

So what’s next for the studio? Broche has previously hinted Expedition 33 is “not the end” of the Clair Obscur franchise, but “clair obscur” as a term is rooted in art. Is that a theme we’ll see continue in future games?

“For me, Clair Obscur is more about a mark of greatness in terms of art and how we see games at Sandfall,” says Broche. “I used the term ‘art house’ before, and it’s really something I am very attached to. It’s games that, in one way or another, will feel very artistic in terms of music, visual, art, story – ideally, everything at once.

“That’s why we also chose an art theme that is very strong with the name Clair Obscur. It reflects that, and it also reflects contrast, which is something I personally adore in stories, where you will never have complete darkness or complete light, but what’s important is what’s in between.

“It also reflects the philosophy of the studio itself,” he adds. “We do some games that are very serious and sombre with some very light moments, of course, but overall, we don’t take ourselves very seriously. And the mood overall at the studio is very light, and we like to laugh all day long. So it’s really this contrast that is both in our game and in the studio, which feels very fitting for how we work on the story of the studio, and there is a spirit of the franchise, let’s say.”

Before that, Sandfall Interactive will release an update to Expedition 33 by way of a “thank you” to the fans. While the studio is tight-lipped about its content, it’s previously hinted it’s exploring new localisation and accessibility options among other additions.

What’s more, Broche tells me the update will have “a bit of whee and a bit of whoo”. No doubt fans will take the hint.



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October 9, 2025 0 comments
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Matthew McConaughey Talks More About Shooting That Iconic One-Take 'Interstellar' Moment
Product Reviews

Matthew McConaughey Talks More About Shooting That Iconic One-Take ‘Interstellar’ Moment

by admin October 3, 2025



Matthew McConaughey looked back on filming that pivotal crying scene in Interstellar, where a drastic time jump occurs to his space-traveler lead role in Christopher Nolan’s powerful sci-fi epic. 

In a career retrospective video with Vanity Fair, McConaughey reacted to his emotional reaction as Cooper, an astronaut who, after a nearly failed mission on a water planet experiencing extreme time dilation (an hour there is seven years on Earth), ends up losing 23 years of his young children’s lives in a matter of a few hours.

The actor talked about his prep for the heartbreaking moment: “It was the first scene up. I had gotten good rest that weekend, and I had had a pretty humble, good weekend. I was with my family,” McConaughey explained, touching on the fact that ultimately, the key scene was a one-and-done moment: the first take is what audiences eventually saw in the film.

“We got in, and Nolan was going to set up, they were about to play the tape. ‘Let’s rehearse the tape.’ I went, ‘Ah, ah.’ I remember, I think I had a note. I’d written, ‘See you first,’” McConaughey continued. “I handed it to Chris. All of a sudden, things came over, and cameras were there, and we played the tape. And again, this is that first take; that’s what we used.”

Of course, that moment would go on to be one of Interstellar‘s most memorable, not just for its dramatic connection in the film, but also for how it spun off into its own life as a viral internet reaction meme, used to convey everything from somber experiences to overblown fictional tragedy striking any given fandom.

“I didn’t have to go to a place. I did think about, and I did try to understand, what if one day you go to work, and [then] you were gone for 10 years. When Casey Affleck and Chastain come on [playing Cooper’s grown up children], the dread of having to miss that in my own life with my own kids, I just reacted.” McConaughey elaborated. “Which is what I’ve learned I like to do… there’s things like that. Because I’ve consistently tried to [be like], ‘Let’s just do the first take.’ Because everything after take one is acting, for real. We can improve stuff in take two, but everything after take one, if you’re fully relaxed and just reacting—everything after take one is acting. I didn’t want to know what was coming.

“I wanted to just… that’s all about relaxing, then. That’s just me relaxing, then what happens, happened.”

And what happened was one of the most iconic moments in McConaughey’s career—memery or otherwise.

Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.



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October 3, 2025 0 comments
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Intel sign
Product Reviews

AMD in early talks to make chips at Intel Foundry, report says

by admin October 1, 2025



Intel is in the early stages of talks with AMD about making the fabless chip designer an Intel Foundry customer, according to a report from Semafor.

The report, citing “people familiar with the matter,” doesn’t say just how much of AMD’s chip manufacturing would move to Intel. The company currently fabs its chips at TSMC. (Intel fabs some products at TSMC, too.)

In the past several weeks, Intel has seen a flurry of activity and investments. The United States announced a 9.9% ownership stake in Intel, while Softbank bought $2 billion worth of shares. Alongside Nvidia, Intel announced new x86 chips using Nvidia graphics technology, with the graphics giant also purchasing $5 billion in Intel shares. There have also been reports that Intel and Apple have been exploring ways to work together.

Such a partnership with AMD could validate former Intel CEO Pat Gelsinger’s vision. He had previously expressed interest in building chips for all of the world’s major tech companies, including long-time rival AMD. It’s unknown if AMD is considering a stock purchase similar to Nvidia.

AMD would be a major get for Intel, the latter of which has talked to many companies in a search for foundry customers. Current Intel CEO Lip-Bu Tan has suggested the company could stop offering its 18A node entirely if there isn’t enough demand for it.

Intel and AMD did not respond to requests for comment from Tom’s Hardware in time for publication.

It makes sense for Intel’s former rivals — especially American companies — to consider coming to the table. The White House is pushing for 50% of chips bound for America to be built domestically, and tariffs on chips aren’t off the table. Additionally, doing business with Intel could make the US government, Intel’s largest shareholder, happy, which can be good for business. AMD faced export restrictions on its GPUs earlier this year as the US attempted to throttle China’s AI business.

In general, Intel’s Foundry technology is perceived as less advanced than TSMC’s, but partnering with Intel could provide a backup if AMD ever needs one.

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October 1, 2025 0 comments
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Former Rockstar VP Talks GTA 6, Explains Why Bully 2 Never Happened
Game Updates

Former Rockstar VP Talks GTA 6, Explains Why Bully 2 Never Happened

by admin September 29, 2025



In 2020, Rockstar Games co-founder Dan Houser left the company after over two decades as one of the driving forces behind the Grand Theft Auto and Red Dead Redemption franchises. While Houser has since launched a new company, Absurd Ventures, he recently shared his thoughts on Grand Theft Auto 6 and explained why Bully 2 never materialized.

During a panel appearance at Los Angeles Comic Con (via IGN), Houser was asked about how he feels regarding GTA 6, the first Grand Theft Auto game in decades that he had no involvement with.

“I think it’s a great privilege to have worked on something that big–you know, I wrote the last 10 or 11 of them, so I think the world’s probably had enough GTA from me … There’s always a new story, so it’s not going to be a story that I wrote or a character set that I developed. I think it’s going to be exciting. The game will be great, I’m sure.”

Houser has previously voiced his desire to see a sequel to Bully, the 2006 game set at a boarding school. When he was asked about the reasons why Bully 2 didn’t come to pass, Houser cited “bandwidth issues,” before adding, “If you’ve got a small lead creative team and a a small senior leadership crew, you just can’t do all the projects you want … With certainly how we’re structuring it, [we were] trying to do two projects with a very fairly small team, and just really trying to think through that. ‘How can we do that and keep them both moving?'”

Picking a favorite game from his time at Rockstar proved to be difficult for Houser. He noted that Red Dead Redemption 2 was “the best thing that I worked on [and the] best single kind of realization of open-world storytelling thematic consistency and understanding how the games are assembled to take you on an an emotional journey.” He also cited GTA 4, GTA 5, Bully, and Red Dead Redemption as some of his best experiences at Rockstar.

Houser’s next project is a comic book miniseries called American Caper, which will be released by Dark Horse Comics on November 12. He also said that Absurd Ventures’ first video games will be a currently untitled “open-world third-person comedy,” and A Better Paradise, which he described as “a third-person dystopian tragedy.” Both games are still early in development.



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September 29, 2025 0 comments
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James Gunn Talks Batman and 'Brave & the Bold' Status
Gaming Gear

James Gunn Talks Batman and ‘Brave & the Bold’ Status

by admin September 27, 2025



What’s going on with Batman and Brave & the Bold, his first movie in this growing DC universe? According to James Gunn, things are going well, but not so well that they’ve found an actor for the superhero just yet.

In a recent Hollywood Reporter story, Gunn explained he’s not actively searching for actors to play the character he considers a big problem in several respects. Still, that hasn’t stopped some from putting their names out there well in advance like Brandon Sklenar; the It Ends With Us and 1923 star has openly shown interest and encouraged his fans to help spread his name out there.

Gunn previously mentioned 1923 on a recent Peacemaker podcast episode, prompting speculation that he was scouting out Sklenar. But he told THR he just likes the show and creator Taylor Sheridan’s work—he considers Sklenar “great” on it, but he’s watching “mostly for fun, definitely not because I need to find a Batman.” He did, however, single out Julia Schlaepfer, who plays Sklernar’s wife on the show: “She’s just so fantastic that I suggested her for something recently.”

As for Brave & the Bold, Gunn revealed to IGN the script is in a pretty good place. But when it comes to its co-lead Damian Wayne, “plenty of things are in flux. Some things have changed on what his situation is with his parentage and all that stuff.” When asked for clarification on what exactly that means, like who Damian’s parents are or if he’ll still be in the movie, he just said “you have to wait and see exactly what’s happening.”

Cryptic, but at least we know the movie still exists. Hopefully, we learn who our new Batman is, and what else to expect from Brave & the Bold, sooner rather than later.

Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.



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September 27, 2025 0 comments
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Investors including Saudi 's PIF are reportedly in "advanced talks" for a $50bn leveraged buyout of EA
Game Reviews

Investors including Saudi ‘s PIF are reportedly in “advanced talks” for a $50bn leveraged buyout of EA

by admin September 27, 2025


A group of financial investors are in “advanced talks” with EA to go private with a valuation worth around $50 billion (£37.5 billion).

According to the Wall Street Journal (£), the investors – thought to include equity firm Silver Lake, Affinity Partners, and Saudi Arabia’s controversial Public Investment Fund (PIF) – could announce a deal as soon as next week. If true, this would make it the biggest leveraged buyout ever.

News of the potential deal sent EA’s share prices rocketing, closing 15 percent higher on Friday.

Saudi Arabia’s PIF increased its stake in FIFA publisher EA back in 2023. The PIF initiative was designed to diversify the country’s revenues via investment in foreign companies, with a large arm focused on the video games industry. It’s chaired by Prince Mohammed bin Salman, the controversial ruler blamed by the CIA for the assassination of Washington Post journalist Jamal Khashoggi, who has upheld the country’s notoriously poor human rights record.

Despite this, the PIF holds a notable stake in a swathe of gaming companies, including Grand Theft Auto publisher Take-Two Interactive, Nintendo, Embracer, Nexon, Capcom, and Ubisoft, after boss Yves Guillemot secured PIF funding, leading to new DLC for 2023’s Assassin’s Creed Mirage set in 9th century AlUla, an ancient Arabian city.

Affinity Partners was founded by President Trump’s son-in-law, Jared Kushner.

EA has declined to comment.



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September 27, 2025 0 comments
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Kraken
GameFi Guides

Kraken In Investment Talks, Targeting $20B Valuation Ahead of IPO: Report

by admin September 27, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Crypto exchange Kraken is reportedly in talks with a strategic investor to raise capital that pushes its valuation to $20 billion ahead of a potential initial public offering (IPO). This development comes amid the crypto firms’ IPO frenzy in the US under a rather supportive administration of President Donald Trump.

Kraken Stays Focused, Follows $500M Raise With New Funding 

On Friday, Bloomberg reported that Kraken has begun advanced negotiations to boost its value to $20 billion as part of fundraising efforts in view of a planned IPO. Impressively, this move follows a recent $500 million raise, which took Kraken’s valuation to $15 billion.

Bloomberg first reported on Kraken’s IPO valuation in March 2025, stating the exchange was targeting a public listing in the first quarter of 2026. Beyond capital raising, the US-based trading platform has displayed other behaviors seen in IPO preparation, such as financial statement disclosure. 

Furthermore, Kraken has also expanded its product line beyond digital asset trading to include access to stocks and exchange-traded funds. While the reported funding talks remain in progress. Bloomberg expects a $200 to $300 million commitment according to sources familiar with the matter, allowing Kraken to potentially reach its target $20 billion valuation ahead of 2026. 

The media house also reports that the crypto exchange has engaged the advisory services of Morgan Stanley and Goldman Sachs Group Inc. in regard to this planned IPO. Kraken is now expected to soon file an S-1 registration statement with the US Securities and Exchange Commission, as expected of any entity aiming to launch a public offering.

Crypto IPO Frenzy Continues 

Kraken joins a growing list of crypto/blockchain firms seeking public funding. In 2025 alone, four other companies, namely USDC issuer Circle, blockchain lender Figure, and exchanges Bullish and Gemini, have successfully launched IPOs, indicating a significant step-up in wider investors’ interest in digital asset-focused firms. 

This public market approach is widely buoyed by the pro-crypto policies of Trump. Notably, the Republican has upheld promises of creating a friendly regulatory environment for digital assets operations, as indicated by strategy changes by regulators, including the SEC and CFTC.

The 47th US President has also popularly established a Federal Bitcoin Reserve, prompting similar actions from state governments. In terms of regulations, Trump also famously signed the GENIUS Act into law, creating a regulatory framework for stablecoin issuance, operations, and use. 

At press time, the total crypto market cap is valued at $3.73 trillion following the market crash seen in the last week. Notably, there has been a slight recovery of 1.11% in the past 24 hours.

Total crypto market cap valued at $3.73 trillion on the daily chart | Source: TOTAL chart on Tradingview.com

Featured image from Flickr, chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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September 27, 2025 0 comments
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Ava Labs' Morgan Krupetsky talks Avalanche, tokenization
Crypto Trends

Ava Labs’ Morgan Krupetsky talks Avalanche, tokenization

by admin September 23, 2025



Tokenization is not new, says Morgan Krupetsky of Ava Labs, but this time, it’s here to stay.

Summary

  • Tokenization isn’t new, says Morgan Krupetsky of Ava Labs, and Avalanche was a first adopter
  • Stablecoins are the real, proven use case for tokenization, with over $280 billion market cap
  • The future is in DeFi integration into the background of almost all digital

Tokenization has emerged as one of the most influential narratives in crypto, with promises of greater efficiency, liquidity, and accessibility. Still, while major institutions are increasingly jumping into the field, the reality remains mixed.

Crypto.news spoke with Krupetsky of Ava Labs, who discussed Avalanche’s early role in tokenization and how to separate hype from reality.

Crypto.news: In your piece on “Tokenization 101,” you wrote that tokenization is still mostly hype. Which parts do you think are hype, and which are not?

Morgan Krupetsky: Tokenization isn’t new: people have been experimenting with it since 2017. We’ve seen all sorts of headlines about tokenizing everything from uranium to the Burj Khalifa. There’s been no shortage of announcements, but a lot of them are announcements of announcements—not live products.

That’s why I like to look at metrics, such as the dashboard on RWA.xyz, to see what’s actually deployed and reflected on-chain versus what’s just marketing.

The clearest success story so far is stablecoins, which are the quintessential tokenized asset with over $280 billion in market cap. Stablecoins have, in turn, spurred interest in tokenized money market funds. That segment is still small, but it’s growing.

We’re also seeing stablecoin and synthetic dollar issuers expand into private credit. There are ongoing efforts to tokenize equities, and people are experimenting with tokenizing collectibles, commodities, and more. But again, the key is separating what’s real and in production from what’s just hype.

Aside from stablecoins, which segments of tokenization look the most promising to you? Where do you see the biggest opportunities, whether for regulatory or technical reasons?

MK: I’m very excited about the private credit space. A big reason is that these products are yield-bearing. If you can automate things like interest payments and waterfall distributions using stablecoins, the benefits of tokenization become very tangible.

Take private equity, for example. It doesn’t generate disbursements in the same way, and NAV doesn’t change as frequently. The on-chain benefits are there, but not nearly as obvious. In contrast, with credit products, you immediately see how programmability adds value.

Specifically in asset-backed finance (ABF), we’re using stablecoins and programmatic facilities to streamline and upgrade the process. After the global financial crisis, banks pulled back from certain lending activities. Fintech originators stepped in, and private credit firms followed — but today the ABF space is dominated by the largest alternative asset managers. They can underwrite well, and they have huge middle and back-office teams to process loans.

By using programmable facilities and stablecoins, we can make those processes more efficient. That opens the door for smaller funds, emerging managers, and family offices to participate in ABF lending, a segment set to grow significantly in the coming years.

Right now, we’re running a few pilots with fintech originators, with the goal of scaling. For us, it’s about upgrading the ABF industry not just with “better tech,” but with better, programmable money.

And just to add: this isn’t about simply tokenizing loans for secondary market trading. A lot of initiatives are trying to create liquidity that way, but before that, the real impact comes from using the underlying tech stack to improve how the process works today.

When it comes to automating lending decisions, some companies have tried before, like Carvana in used cars or Zillow in housing, often with mixed results.

MK: I do not think the goal is to replace human decision-making. It is more about equipping institutions and individuals with better tools.

That is how a lot of AI is being used today: not to replace expertise, but to help people make more informed decisions. Blockchain allows data to be standardized and verified more quickly. That means decisions can be made faster and with fresher information, rather than working off an Excel spreadsheet that is 30 days out of date.

In this context, the technology acts as an enabler, not a replacement for underwriting capabilities. Human judgment still matters.

The same misconception comes up with tokenization. Just because you tokenize an asset does not mean people will automatically want to buy it, or that liquidity will appear. Tokenization does not create secondary markets on its own. What it does is provide the tooling that makes those markets possible if there is real demand.

You mentioned the financial crisis and lessons from subprime mortgages. Some industry voices have warned that tokenization can also carry risks, especially when funds are not transparent about what they are packaging. Do tokenized asset issuers actually use blockchain’s potential for transparency and compliance?

MK: Just as tokenization does not guarantee liquidity or secondary market demand, it also does not guarantee compliance. The technology is a tool. It can reflect laws, rules, and regulations, and it can help manage compliance more proactively. But it does not create the rules or set the governance framework. That still has to come from regulators and financial institutions.

In the work we are doing with private credit, for example, blockchain is being used to create better risk-adjusted returns for us and for our capital partners. Certain things are more transparent and can be programmed, which allows fintech originators to manage compliance and risk more effectively. From an investor’s perspective, that visibility makes them more comfortable deploying capital.

Ultimately, it is up to each issuer to ensure that their tokens or funds are launched in a compliant way, depending on the underlying asset and jurisdiction. There is a wide spectrum of approaches across different markets. The technology helps, but it does not replace the responsibility of humans to ensure compliance.

What is your view of the current regulatory environment in the U.S. when it comes to tokenized assets?

MK: In general, I think the regulatory environment has shifted a lot since the election. The change has provided strong tailwinds for the industry across the board. Institutions, banks, and asset managers are now much more open to exploring public blockchain infrastructure. You can feel the difference in conversations.

When it comes to comparing tokenized assets with their off-chain equivalents, the full benefits really come when more of the asset life cycle is issued and managed directly on-chain. Tokenizing something that was issued off-chain and then trying to administer it in two different systems creates friction. Over time, I think we will see more issuance happen natively on chain, but we are still in a transition period.

The long-term vision is to have stablecoins accepted in day-to-day use, tokenized assets issued from the start, and administration handled entirely on-chain. That is when the benefits of composability and programmability really show through. For example, idle assets could earn interest while being held in escrow. But we are not there yet.

I also sympathize with large incumbents like banks. Some of them have been operating for hundreds of years. Overhauling systems is expensive and disruptive, so they need a clear business case or threat to their revenue before making big moves. In the meantime, neobanks and fintechs have more flexibility and are often quicker to experiment.

Established firms like Nasdaq filed for tokenized equities. Mastercard file for stablecoins. Do you think DeFi can compete with traditional players in these markets? What advantages does decentralization bring?

MK: I think there will always be a place for public, permissionless DeFi as it exists today. But what is really happening is a convergence of DeFi, CeFi, and tokenization. When I started at Ava Labs three years ago, these were seen as separate worlds. Now they are coming together, and I expect that to continue.

Institutions are not likely to jump directly into DeFi platforms, but DeFi primitives can absolutely power the back end of fintechs, neobanks, and even traditional platforms. We are already seeing that with exchanges launching earn programs that rely on DeFi integrations behind the scenes.

From a tokenization perspective, the best path to adoption is through integration with the platforms people already use. That could be Nasdaq, a wealth tech platform like Robinhood, or private bank wealth management systems. For end users, the blockchain layer should be invisible. They do not need to know or care which chain is being used. What matters is that they get new or better financial products.

For example, imagine being able to spend directly from a tokenized money market fund using a debit card. That is the type of experience that will drive mass adoption, and in the back end, it can be powered by Web3 infrastructure, including DeFi.

Can you provide an overview of what Ava Labs has been doing in this space?

MK: Our mission from the beginning has been to digitize and tokenize the world’s assets. Many of us at Ava Labs were already working on tokenization before it was called “RWAs”. We have always believed this would be a core use case for blockchain.

One of our early milestones was working with Securitize and KKR to tokenize a portion of their healthcare growth fund in 2021. That was before tokenization was a mainstream narrative, but it showed the potential of bringing high-quality assets on-chain.

Since then, we have focused on two things. First, cultivating a high-quality supply of tokenized assets from top-tier managers such as Apollo, BlackRock, Wellington, and others. Second, building out distribution and demand by working with platforms that are built on Avalanche. We are doing a lot of outreach to potential distribution partners so that tokenized assets can reach investors through the channels they already use.

The reality is that most liquidity is still off-chain. The path to adoption is connecting that liquidity with tokenized assets through traditional distribution systems. That is what will drive the step change in adoption.

What about the Avalanche treasury initiative?

MK: I see it as another vehicle for a broader set of investors to access the Avalanche ecosystem. Not everyone is comfortable holding tokens directly, setting up a Web3 wallet, or going through that user experience. To be honest, the industry still has work to do on usability.

Products like this are similar to ETFs or ETPs in that they provide a more familiar structure for investors. That can include both institutions and individuals who want exposure but prefer a traditional wrapper. It ultimately opens access to Avalanche for people who might not otherwise get involved.

What work still remains to realize that vision?

MK: From the start, we have been focused on institutions and on-chain finance, and that remains our priority. We are doubling down on areas like DeFi, payments, treasury tokenization, and wholesale finance. I am proud of the progress we have made, but there is still a lot of work ahead.

The truth is that we do not have mass adoption yet. Institutional liquidity is not flowing into on-chain assets at scale. A lot of the puzzle pieces are in place now—custodians, on- and off-ramps, compliance frameworks, tokenization platforms—but we are not at the point where the industry can say, “We made it.”

I compare it to the early internet. Back then, people still talked about “internet companies.” Today, every company uses the internet, and you do not make that distinction. We will have reached the same milestone when blockchain is used as a core piece of infrastructure across enterprises, governments, and financial institutions. At that point, there will be no such thing as a “blockchain company”. It will just be part of how the world operates.



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September 23, 2025 0 comments
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Ripple Talks Crypto at British PM’s Residence
NFT Gaming

Ripple Talks Crypto at British PM’s Residence

by admin September 23, 2025


  • “Huge” opportunity 
  • Ripple’s UK footprint 

Ripple’s Cassie Craddock has revealed that she recently attended a high-profile roundtable in Downing Street together with the representatives of other leading cryptocurrency firms from the UK and the US.   

Notably, the roundtable included both UK Chancellor Rachel Reeves and US Secretary of the Treasury Scott Bessent. 

“Huge” opportunity 

Craddock has noted that there is a “huge” opportunity for closer cooperation between the U.S. and the U.K. 

“Increased international collaboration between the UK and US – including initiatives such as the roundtable earlier this week – will further serve to unlock the full economic potential of blockchain technology in both countries,” Craddock said. 

According to a recent report by the Financial Times, the UK and the US have set up a task force that is meant to foster both short-term and medium-term co-operation on cryptocurrency regulation.  

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The partnership could potentially set a template for international cooperation within the industry. 

Ripple is capable of further driving US-UK tech innovation because of its strong transatlantic footprint, according to Craddock.

Ripple’s UK footprint 

Before the SEC took Ripple to court in 2020, Ripple CEO Brad Garlinghouse publicly stated that the company was considering moving its global headquarters from San Francisco to London. The company currently maintains a major office in London, which serves as an important European hub. 

The Ripple leadership has long praised the UK for its pro-innovation approach toward digital asset regulation. 

The company became part of the Digital Pound Foundation in October 2021. 



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September 23, 2025 0 comments
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Changpeng Zhao discloses BNB treasury plans amid Binance comeback talks
NFT Gaming

Changpeng Zhao discloses BNB treasury plans amid Binance comeback talks

by admin September 17, 2025



Changpeng Zhao has revealed bold treasury plans to grow the BNB ecosystem as speculation of his return to Binance comeback gains momentum.

Summary

  • BNB treasury plans gain traction as CZ outlines support for growing institutional interest.
  • Speculation grows over CZ’s return to Binance after he changed his X profile back to “@binance” amid reports the DOJ may lift compliance restrictions.
  • BNB price hits all-time high of $962, with analysts predicting a surge past $1,000 amid renewed investor interest.

Binance founder Changpeng Zhao (CZ) has revealed ambitious plans to reshape the BNB ecosystem through the upcoming BNB Treasury Company. The disclosure came during a recent interview with Leon Lu, founder of B Strategy, where the former Binance CEO talked about the future of BNB, its ecosystem, and strategic plans aimed at driving long-term growth.

Describing BNB (BNB) as a “true utility coin,” CZ emphasized its unique position in the crypto space. “Very few coins have these types of benefits,” he said, referencing BNB’s multi-chain compatibility and its use across trading discounts, yield generation, launch pools, launchpads, and the Binance Alpha ecosystem. 

According to CZ, BNB’s importance spans both centralized and decentralized platforms, with active use in cross-border payments and dApps worldwide. He also spotlighted strong network effects and untapped potential in regions such as Southeast Asia, Europe, the Middle East, and Africa. He stated that this “undeveloped potential” is a competitive advantage, suggesting that the BNB ecosystem still has substantial room to grow.

The discussion builds on B Strategy’s plan to launch a U.S.-listed treasury company focused on BNB, targeting a $1 billion raise with backing from YZi Labs. CZ highlighted growing institutional demand for the asset, noting that support will be offered only to strong, well-positioned projects.

“We’ve been approached by probably more than 50 companies for BNB specifically,” stated the founder, adding that, “While we cannot not support anybody who wants to buy BNB…we will only do that to a very small number of DAT companies. Basically, the very top, strong ones.”

Alongside these BNB treasury revelations, speculation about CZ’s return to Binance has also taken center stage. 

Is CZ coming back to Binance?

The rumors were sparked when CZ quietly changed his X bio on Sept 17, from “ex-@binance” back to simply “@binance.” The subtle change comes nearly two years after CZ stepped down as CEO following a $4.3 billion settlement with the U.S. Department of Justice in Nov 2023.

At the time, he pleaded guilty to violating U.S. anti-money laundering laws and was fined $50 million. The terms of the settlement also barred him from managing or operating Binance, with Richard Teng stepping in as the new CEO.

Now, reports allege that the DOJ is close to lifting the compliance oversight placed on Binance, a move that would remove one of the final legal barriers potentially preventing CZ’s return. However, CZ has previously denied any intentions to return as CEO again, saying he has no wish to return to the company even if allowed.

Still, the timing and subtle hints have sparked fresh speculation. Meanwhile, BNB price itself has been in an uptrend, recently soaring to a new all-time high of $962, defying broader market consolidation. 

BNB treasury buzz fuel rally, price eyes $1,000 milestone

Per crypto.news data, the Binance Coin price is up 2.7% on the 24-hour chart, trading around $956 at press time. It has also increased by 8.2% and 13.7% on the week and month respectively, signaling high bullish activity partly fueled by the ongoing treasury buzz.

The altcoin has been enjoying a massive interest from institutional investors. Alongside the upcoming BNB Treasury Company, several other firms like Nano Labs have unveiled Windtree Therapeutics their various long-term bet on the asset, adding weight to the bullish momentum.

Meanwhile, the Binance Coin price has entered a bullish continuation, forming a clear uptrend with consistent volume increases. The MACD remains strongly bullish, with the MACD line above the signal line and widening, suggesting ongoing upward momentum. The RSI is at 70.82, which is entering overbought territory, signaling a possible short-term pullback or consolidation.

BNB Price chart | Source: crypto.news

Should the treasury plans continue, BNB may be positioned for further gains. Immediate resistance lies at $980, and a breakout above this could open the door to retesting the $1,000 psychological level. Strong support can be seen around $920, with deeper support near $880 if a correction occurs.



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September 17, 2025 0 comments
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