Jeff Yew

Monochrome

2026-09-27 12:59:29

Monochrome launches MCR IEO, raising more than 5.5 million USDT

Monochrome Exchange, an Australian digital asset management company founded by former Binance Australia co-founder and CEO Jeff Yew, has launched the initial exchange offering for its platform token MCR. According to Lookonchain, the sale has raised more than 5.5 million USDT so far. MCR has a total supply of 210 million tokens, with 10.5 million tokens, or 5% of supply, allocated to this public IEO. The tokens sold in the offering will be locked for one month after the token generation event, followed by a three-month linear unlock schedule. Monochrome said MCR holders will receive spot and derivatives trading fee discounts, priority access to Digital IPO and token issuance subscriptions, staking rewards, higher Launchpad allocation weighting, node program participation, and governance rights through Monochrome DAO. The company also said 20% of quarterly net platform profit and 25% of Digital IPO fee revenue will be used for quarterly buybacks and burns of MCR.

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Balaji Sriniv

2026-08-12 08:15:41

Balaji’s Network School shuts in Malaysia as Jeff Yew eyes Forest City site

Balaji Srinivasan’s Network School in Malaysia’s Forest City has been shut down after a July controversy that triggered official scrutiny, and the project may now relocate permanently to Kazakhstan. Bloomberg reported that Srinivasan told students the school would re-establish itself there once it finds a suitable site, and that he has already met Kazakhstan’s Minister of AI and Digital Development, Zhaslan Madiyev. In Malaysia, the episode began after social media posts alleged the presence of Israelis at the school, a politically sensitive issue given the lack of formal diplomatic ties between Malaysia and Israel. Immigration authorities later checked 266 foreign nationals at the site and found they held valid travel documents, but Johor state authorities subsequently identified two breaches involving local licensing rules and ordered the campus to close. Former Binance Australia CEO Jeff Yew, who was born in Malaysia, has since said he is interested in taking over the vacated campus. He told Bloomberg the idea remains at an early stage and would not copy Srinivasan’s Network State model. Instead, Yew said any new plan would follow a clearer “Malaysia First” approach centered on local founders, scholarships for Malaysians, and compliance with local government and regulatory expectations.

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