Just weeks after Malaysian authorities shut down Network School, a tech commune founded by former Coinbase CTO Balaji Srinivasan, local crypto executive Jeff Yew has unveiled plans to repurpose its former campus in Forest City, Johor.
Yew, CEO of Monochrome Asset Management, envisions transforming the site into a hub for AI and blockchain innovation, positioning Forest City as Southeast Asia’s answer to Silicon Valley.
Jeff Yew Eyes Forest City for AI & Blockchain Hub
Yew argues that Malaysia’s crypto and digital economy remains fragmented, with entrepreneurs scattered across Malaysia and Singapore.
Forest City, a $100 billion development often described as a “ghost town,” offers infrastructure, proximity to Singapore, and tax incentives that could attract startups. He imagines a community where companies and workers collaborate, learn, and even settle with their families.
The proposal is still in early stages, but Yew emphasized it would align with Monochrome’s broader ambitions in Asia. His firm manages Bitcoin and Ethereum exchange‑traded funds worth over AUD$130 million.
Yew said he would prioritize local digital firms and talent, potentially offering incentives to relocate. “I would not have invested the time to look into this if I didn’t think Johor is the best place for this,” he noted.
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