TradFi Suits Aren't Too Mature For Coinfest Asia Antics

Beach, Bali, booze, blockchain - four key components that make Coinfest Asia the most unique and fun-filled crypto conference of the year. But as the crypto industry has shifted to embrace the greys of Wall Street suits, has Coinfest subsequently lost its color?

Marking Blockhead's third consecutive year at the event, we can thankfully say that no, TradFi has not ruined Coinfest. Held in Nuanu City, Bali, Coinfest Asia 2024 attracted over 6,000 participants from across the globe. The figure is a 50% increase in annual participants—from 2,000 attendees in its inaugural year in 2022 to 4,000 in 2023, and surpassing 6,000 in 2024.

Under the banner "Where Innovation Meets Adoption," Coinfest Asia 2024 brought together over 150 global crypto and Web3 experts, hosting 100-panel discussions and side events each. The event facilitated the creation of over 25,000 meaningful connections, driving business opportunities and innovation forward.

“This year, the market conditions are significantly more positive, and participant engagement has been markedly higher. We introduced more interactive panel sessions, enabling direct interaction between attendees and speakers. Additionally, the event was designed to be more immersive, incorporating activities tailored to various audiences, including gamers and developers,” said COO of Indonesia Crypto Network, Felita Setiawan.

Last year, our experience at Coinfest was a disappointing one, especially compared to 2022. "We went to Coinfest on a budget and got Coinfest on a budget... but it was still the best crypto event of 2023 so far," we stated.

But hosted in the peak of a bull market, Coinfest 2024 restored our faith in the festival, participants, and of course, crypto party goers. Unburdoned by TradFi making the space more mature, the Bali crypto scene was back in full fledge, in its fully unencumbered, unadulterated, unfiltered style.

Blockhead's Moderately Humble Moderation

During the event, Blockhead co-founder Cohan Chew moderated a panel on "Navigating the Ever-Changing Crypto Market."

He was joined by an esteemed panel including Alex Rumondor, head of business development at CoinEx Global, Alex Svanevik, CEO of Nansen, and Michael Lau, SVP, group head of business development and chairman of Consensus Hong Kong at Bullish, and Vugar Usi Zade, COO of Bitget.

The points of discussion included identifying predictable patterns in the chaos of the markets, spotting the difference between market trends and short-live fads, adjusting investment strategies to accommodate global economic events, and market sentiment vs market manipulation.

Meanwhile, BRN's lead research analyst Valentin Fournier took to the stage to moderate a panel on "The LSD Effect of Liquid (Re)Staking."

He was joined by a distinguished panel, including Daniel Anthony Wong, head of growth at Pendle and Andy Cho, director of Asia at Frax Finance.

BRN's lead research analyst, @Valfrnr, moderated a panel at @CoinfestAsia 2024 on "The LSD Effect of Liquid (Re)Staking."

He was joined by a distinguished panel, including Daniel Anthony Wong, Head of Growth at @pendle_fi and Andy Cho, Director of Asia at @fraxfinance. pic.twitter.com/FKvgQqG9Nl
— BRN (@thebrn_co) September 2, 2024

Yat Siu and Podcast Galore

Loyal Blockhead readers will remember that the team headed t0 Yat Siu's suite during last year's Coinfest. This year, we decided to host the Animoca Brands co-founder on our podcast series, Blockcast.

Since our last catch-up, the crypto industry has experienced floods of TradFi money flowing into the market, bolstered by the likes of Bitcoin and Ethereum ETFs. But how does this renewed interest from old-school money fair for old-school Web3 projects like the metaverse and blockchain gaming?

Yat Siu shared his insights on how TradFi can complement these facets of Web3 and how Animoca Brands is adjusting to new market demands as well as fulfilling its long-term needs.

We also learned about why Saudi Arabia deserves the crypto industry's attention and how regional developments are shaping the landscape.

Additionally, Blockhead took to the streets (sands) of Coinfest to uncover how the participants were enjoying themselves this year. In a special Coinfest episode of Blockcast, we interviewed a range of Coinfest-goers on scene to find out exactly what they were up to (other than partying).

We heard from:

Bitget's Christopher Rodil and Punnara Akamatsu who explained why the firm was sporting a human-sized cardboard cutout of Lionel Messi at their booth
TRIVE general partner Daryl Lim, who detailed why he's leaving his Metapal Teletubbies behind and venturing into Venture Capital
ZKEX founder Balal Khan, who was just happy to be back in Coinfest with the Blockhead boys
Ripple's senior director, Ross Edwards, who revealed that it was his first time not only at Coinfest but also Bali

Coinfest 2025

We may have to wait another year for Coinfest 2025 but we've already got our bags packed. Beginning in January 2025, Indonesia's Financial Services Authority (OJK) will assume regulatory oversight of the crypto industry from BAPPEBTI, a shift expected to foster a more conducive and stable environment for the crypto and Web3 sectors.

Coinfest Asia 2025 is poised to return with a focus on addressing critical industry challenges, including advancements in real-world assets (RWA), digital identity, AI in blockchain, and navigating increasingly complex regulatory landscapes.

Felita Setiawan stated, “Coinfest Asia 2025 aims not only to double this year’s participation but also to elevate the event to new heights. We intend to introduce enhanced interactive experiences, welcome more global industry leaders, and expand networking opportunities to accommodate the growing demand for and relevance of Web3 technologies in Asia.”

We're ready.