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With the wrapping up of TOKEN2049 Dubai, one thing was clear that Web3’s next chapter is imminent. In an interview with Cryptopolitan, Animoca Brands co-founder Yat Siu laid out how digital property rights, AI agents, and decentralized identities will shape the internet’s future and why the next crypto cycle is about more than just price action. If you think Animoca Brands is just a gaming company or a venture capital firm, you’re not thinking big enough. According to Yat Siu, Animoca’s true identity is as an ecosystem builder, one on a mission to make digital property rights a global standard. “Basically, if you think of us as an ecosystem builder, our mission is to make digital property rights standard in the world,” Siu explains. “We do this through gaming. We also do some investments. But if you want to make the whole world accept digital property, you can’t do it alone.” Since its entrance into the blockchain space in 2017, Animoca has deployed capital into over 570 projects, with more than 165 of those directly tied to gaming. When asked why Animoca has invested so broadly, from games to infrastructure, Siu emphasized that the company is not a traditional VC. “All of our investments come from our balance sheet. We don’t run a fund. It’s more like how Apple should be operating,” he explained. “Apple has $300 billion in cash. Do they have a VC fund? No. Should they? Yes, If they put even 1% of that into building apps for the App Store, they would build a bigger ecosystem.” What was the spark that ignited Animoca’s Web3 gaming ambitions? We asked. He highlighted that it was CryptoKitties, the collectible cat NFTs that first hinted at a programmable, ownable internet in 2017. Siu compares it to the early mobile gaming boom. “It wasn’t really a game. It was NFTs you could breed. Was it a great game? No. But it was the moment we understood this was big.” Even after hundreds of investments, not everything has gone smoothly. Siu acknowledges some missteps, especially during crypto bear markets. Token launches—such as Gunzilla’s Off The Grid and other projects—underwhelmed, often because of macro conditions rather than product quality. “Gaming macro was bad. All gaming tokens were doing badly,” Siu notes. Still, he remains optimistic. He believes gaming and metaverse tokens like SAND (from Animoca-backed The Sandbox) are primed for a strong comeback by the end of the year, driven by renewed mainstream attention thanks to events like GTA VI’s release and new Nintendo hardware. “We believe existing gaming projects that are already listed have an opportunity because they’re underpriced. They’re currently priced relative to utility, not sentiment.” As bullish as he is on gaming, Siu is placing major bets on two less-hyped areas: digital identity and education. He sees digital identity, specifically Animoca’s Mocaverse project as crucial to building a robust, reputation-based Web3 economy. “Digital identity with multiples is a huge bet we’re taking. We think it’ll create a mass market in terms of digital reputation and make a huge impact.” He also sees education as fertile ground for Web3 applications, though details on Animoca’s approach remain under wraps. Meanwhile, the rise of AI has only strengthened his thesis. Far from a threat, Siu sees AI as a catalyst for Web3 mass adoption. “Your wallet won’t be MetaMask. It’ll be an AI agent that does MetaMask for you, the kind of wallet I can give my grandma,” he says. AI will also unlock explosive growth in user-generated content, composable NFTs, and autonomous agents transacting in crypto. “The native currency of AI agents is crypto. It’s nothing else.” Despite all the futuristic visions, Siu remains grounded in gaming culture. A self-professed first-person shooter fan, he acknowledges the massive appeal of hyper-casual and idle games but doesn’t view them as competition in the traditional sense. “The competitor of idle games isn’t other games, it’s TikTok. It’s all about attention,” he said. For Siu, the magic of gaming lies in its cultural universality, whether it’s Prince of Persia sparking curiosity about Persia or modern Chinese games finding global audiences. “Gaming is culture. You have to hit something that fits into the cultural narrative.” Turning to geopolitics, when asked about the impact of rising US-China tariffs and trade tensions, Siu offered a surprising take. “Tariffs are positive for digital industries. If people can’t buy goods as easily, they turn to entertainment and games, and remember, there’s no tariff on software or Bitcoin,” he noted. As physical goods become pricier, Siu expects people to spend more time in digital spaces, where tariffs don’t apply. “Games are neutral, I can play Fortnite, The Sandbox, or Axie Infinity without worrying about tariffs,” he said. Even when it comes to crypto, the borderless nature of digital assets stands out. “If I send you Bitcoin from China, there’s no tariff on that,” Siu added. Wrapping up the conversation, I asked Yat Siu whether he believes most gaming-related tokens are fundamentally overvalued. His response was clear: “No, I think they’re fundamentally undervalued.” Siu explained that gaming tokens reflect much more than just current speculation, they mirror the broader macro trends within the digital economy. “If we believe, as we do, that gaming’s role in the global economy will grow by the end of the year, then these tokens are undervalued,” he said confidently. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

European leaders are scrambling to speak directly with President Trump ahead of his one-on-one call with Vladimir Putin, a call the White House says will take place this week. This is the first publicly confirmed conversation between the two men in nearly three months, and it’s happening at a critical point in the stalled efforts to end Russia’s war in Ukraine. According to the Financial Times, Trump’s aides believe this call could define the US position in the next phase of peace talks. Emmanuel Macron, Friedrich Merz, and Keir Starmer have already scheduled a joint call with Trump on Monday—their second since Friday—in an attempt to influence the president’s strategy before the Kremlin conversation. Merz, the German Chancellor, said, “We can only hope that there will be further progress,” after stressing that both Washington and Europe were working “purposefully” to bring the war to an end. But European leaders still fear Trump might make a solo move that cuts Ukraine out of the picture entirely. Putin has refused to meet Volodymyr Zelenskyy face-to-face despite suggesting earlier that talks could happen. Last week, the Russian president rejected a meeting in Turkey, offering no reason. Over the past ten days, he’s declined to engage with any terms he didn’t set himself. Even as US officials grew frustrated, Trump’s team avoided blaming the Kremlin. Instead, the president said on Friday, “I always felt a peace deal was not possible without me,” justifying why he personally arranged the call with Putin. Once the Trump–Putin call ends, the president is expected to speak to Zelenskyy directly. In the meantime, Zelenskyy traveled to Rome on Sunday to meet with Vice President JD Vance. It was their first meeting since their public confrontation in Washington back in February. This time, things were calmer. “It was a good meeting,” Zelenskyy said, adding that Secretary of State Marco Rubio was also present. The meeting in Rome focused heavily on the failed negotiations in Istanbul, where Zelenskyy said Russia “sent a low-level delegation with no decision-making authority.” He added, “I reaffirmed Ukraine’s readiness for real diplomacy and stressed the importance of a full and unconditional ceasefire as soon as possible.” Sergei Lavrov, Russia’s Foreign Minister, told Rubio on Saturday that Moscow is drafting a document that will outline what it wants in exchange for a ceasefire. Rubio said in an interview with CBS, “We don’t want to be involved in this process of just endless talks. There has to be some progress, some movement forward.” He made it clear that continued US engagement depends on whether both sides show real willingness to compromise. “If a document is agreed in the next few days… we can feel good about continuing to remain engaged,” he said. “If not, perhaps we’ll have a different assessment.” Back in Kyiv, there’s concern that if Trump’s administration walks away from the process, US military support could be pulled or cut down, giving Russia more ground. Ukraine has relied on coordinated support from Europe and the US, and any gap could be dangerous. That’s why Zelenskyy joined Friday’s call with Trump and the European leaders. He’s staying close to the action—every single step. In another meeting held in Rome on Sunday, Ursula von der Leyen, head of the European Commission, said this week would be “crucial” for making progress toward peace. She didn’t give specifics but emphasized that there’s little time left before talks collapse again. While diplomats are talking, Russia is moving forward on the battlefield. Over the weekend, Ukraine’s Air Force reported that Russia launched 273 drones and decoys—the most extensive drone attack since the war began. Ukrainian defense units described it as a deliberate attempt to exhaust air defenses before peace talks pick up. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

European fintech giant Trade Republic has secured a full license from Germany’s financial regulator (BaFIN) to offer crypto services. With the move, it became the latest company to get licensed under the Market in Crypto Assets (MiCA) framework. According to Circle Senior Director for EU Strategy and Policy, Patrick Hansen, who shared the development on X, the firm is now authorized to custody crypto assets, execute orders, receive and transmit orders, and provide crypto transfers on behalf of clients. The license allows Trade Republic to offer all these crypto services throughout the 30 European Economic Area (EEA) countries. However, it would still rely on trading platforms and market makers to execute trades. Hansen described the move as evidence of how financial institutions in the region are already making efforts to get licensed under the MiCA before the transition period ends. He said: “The race is on: neobanks, brokers, other fintechs, and even traditional banks are all moving quickly to secure their MiCA licenses before transition periods end.” The transition period for the unifying crypto regulation for Europe is when crypto entities can operate without MiCA licenses in the EU. It is expected to end by the start of July 2026 or until the regulator grants or refuses authorization for companies that have applied. Trade Republic is one of the leading online brokers in Europe, with over 100 billion in assets under management and eight million customers across several European countries. It expanded to Italy earlier this year. Meanwhile, Trade Republic getting authorization to offer crypto services by BaFIN means that 25 companies have now gotten licenses under the MiCA framework. This highlights how slow the licensing process has been in Europe, given that MiCA went into full force in December 2024. There have been concerns that the region’s regulatory approach may harm its efforts to attract crypto entities, especially when other regulators in Asia, the US, and the Middle East have become more permissive of the industry. However, it appears companies are still making efforts to comply with the new regulatory standards in Europe. Interestingly, the German financial regulator is leading in approval rate, with the BaFIN licensing nine out of the 25 countries. Hansen noted that this is 36% of all regulating crypto service providers on the continent. So far, the biggest name to have secured a license appears to be Circle , the issuer of USDC stablecoin. The company remains the only MiCA-licensed global stablecoin issuer after getting authorization as an electronic money institution from France’s ACPR, allowing it to issue USDC and EURC. Other crypto firms that have obtained licenses include OKX, BitGo Europe, MoonPay, Hidden Road, Socios.com, and BitStaete have also secured licenses. Interestingly, Ripple recently bought Hidden Road, likely to gain easier access to the European markets. While a few major crypto companies already have MiCA licenses, others, such as Binance, Kraken, Robinhood, and Tether, are currently not licensed in the region. Although most of them have started the application process, there is a risk that some of these companies may not operate in Europe. Tether, for instance, has already decided against getting a MiCA license for its USDT stablecoin, claiming that the requirements are dangerous for stablecoins. This has made MiCA-compliant platforms in the region that delist USDT. However, it is not just the big companies that this affects. Some experts believe that MiCA could leave lasting damage on the crypto startup scene in Europe as most startups may not meet the licensing standards or be able to bear the cost of the process. Crypto attorney Ilja Nikiforov predicted that around 75% of European registered crypto companies would lose their registration by mid-2025 if they cannot get a MiCA license. He added that funding for European crypto startups has declined by more than 90% from the 2022 peak. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

Moody’s downgraded the United States’ credit rating on Friday, and Wall Street is now bracing for the fallout. The downgrade dragged America down one notch from its top-tier rating. It was the final confirmation that the federal government’s $36 trillion debt is now impossible to ignore. The downgrade came as Republican lawmakers pushed forward a massive tax-and-spending bill in Congress, sending mixed signals to investors already nervous about where all this is heading. The bill, dubbed the “Big Beautiful Bill,” has not cleared key legislative steps, and investors are watching closely. President Donald Trump, now back in the White House, has called for unity around the proposal. But that hasn’t done much to calm the nerves of traders, especially as the bill could add trillions more to the national debt. The Republican-controlled House and Senate are still fighting over its final version, and it’s not clear how they plan to balance more tax cuts with any real cuts to spending. Carol Schleif, chief market strategist at BMO Private Wealth, warned that the downgrade might push investors to become more cautious. She said the bond market is watching “what transpires in Washington this year in particular.” Schleif added that as Congress continues to negotiate, bondholders are ready to pressure lawmakers into sticking to stricter fiscal behavior. Moody’s became the last of the major ratings agencies to pull the plug. Fitch downgraded the US in 2023, and S&P made their move all the way back in 2011. Gennadiy Goldberg, head of US rates strategy at TD Securities, said the downgrade likely won’t force mass selling since most investment funds adjusted their rules years ago. But Goldberg also said the downgrade would “refocus the market’s attention” on the tax-and-spending bill being debated in Congress. Meanwhile, the Committee for a Responsible Federal Budget estimated that the bill could add around $3.3 trillion to the national debt by 2034. If temporary policies in the bill are extended, that number jumps to $5.2 trillion. Moody’s also pointed out that multiple administrations have failed to reduce deficits and that it doesn’t expect current proposals to do much to change that. Treasury Secretary Scott Bessent said the White House is trying to keep 10-year yields from spiking. The current yield is 4.44%, which is still lower than it was before Trump returned to office. But that number could change quickly. Scott has also warned Congress that they need to raise the debt ceiling by mid-July. The US hit its borrowing limit back in January, and the Treasury has been using what it calls “extraordinary measures” to keep the government from defaulting. Without an increase, the country could run out of cash by August — the so-called X-date. That fear is already showing up in bond prices. Yields on Treasury bills due in August are higher than those due before or after, signaling that investors are worried about a potential government cash crunch. Speaker Mike Johnson has said the House hopes to vote on the bill before Memorial Day on May 26. Harrison Fields, principal deputy press secretary at the White House, dismissed the downgrade and said the critics are “wrong, just as they were about the impact of Trump’s tariffs.” Fields claimed that the tariffs led to record investments, strong job growth, and no inflation. Steven Cheung, communications director for the administration, went even further, calling Moody’s economist Mark Zandi a political enemy of Trump. Zandi works for Moody’s Analytics, a separate part of the company, and declined to comment. Some analysts believe the final bill may not be as damaging as it seems. Barclays now projects that the deficit will grow by $2 trillion over the next ten years under the plan — a smaller number than the $3.8 trillion increase expected before Trump came back. They’re pointing to revenue from tariffs and other offsets as the reason. But not everyone agrees. Michael Zezas, a strategist at Morgan Stanley, wrote in a recent note that the bill would increase the deficit in the near term without giving the economy much of a boost. KEY Difference Wire helps crypto brands break through and dominate headlines fast

Bitcoin’s surge to $106,000 earlier this week has been primarily driven by robust spot market demand, with Coinbase seeing net buying pressure of $45 million per day, according to Glassnode’s latest report. The rally, which began after the king cryptocurrency dipped to just below $75,000 in early April, has been marked by strong accumulation phases, exchange-traded fund (ETF) inflows, and a cooling of sell-side pressure, pointing to sustained bullish momentum despite recent profit-taking by long-term holders. Unlike previous rallies fueled by leveraged speculation, this latest uptrend has been characterized by organic sport market accumulation. According to the Glassnode report , BTC changed hands heavily in the $93,000 to $95,000 range, which is now acting as a key support level as it coincides with the cost basis of traders who entered the market within the last 155 days. The price has respected this range amid sideways accumulation, reinforcing the “stair-stepping” structure visible on the Cost Basis Distribution heatmap. Meanwhile, derivatives markets lagged, with perpetual futures open interest dropping 10%, from 370,000 BTC to 336,000 BTC, possibly indicating a substantial short squeeze as bears were flushed out. However, funding rates remain neutral, reflecting a lack of excessive long-side leverage, something which Glassnode’s experts believe is a sign the rally could have more room to run. Spot Bitcoin ETF inflows also played an important role, peaking at $389 million on April 25 before tapering to around $58 million per day. Coinbase, a preferred exchange for U.S. institutional investors, recorded consistent buying. At the same time, the sell pressure on its global counterpart, Binance, eased from $71 million per day in March to just $9 million, suggesting investors were actively buying the dip. Despite the rally, long-term Bitcoin holders have started taking profits, as CryptoQuant analyst Avocado Onchain noted in a May 15 report. According to them, the Binary Coin Days Destroyed (CDD) metric, which tracks dormant coins being moved, has risen to 0.6. While it shows these holders are offloading dormant BTC for profit, the metric has not reached the 0.8 zone seen during previous bull market highs. Glassnode’s own data corroborates this trend, showing that short-term holder (STH) realized profits are spiking to nearly +3 standard deviations above the 90-day average. However, the analytics firm cautioned that profit-taking has not yet reached exhaustion levels, since in past rallies, higher deviations closer to +5 were needed to deplete demand and mark local tops.