HSBC Brings Tokenized Gold to Hong Kong; Munchables Exploited for $62M

Tokenized gold comes to Hong Kong and a crypto A I alliance. You're watching Coindesk Daily, I'm your host, Jen Sani HS BC is tokenizing gold for everyday investors in Hong Kong and claiming bragging rights as the first bank to create a Blockchain based real world asset aimed at the retail marketplace. The Tokenized Gold product is available via the HS BC online banking and HS BC HK mobile app. In a statement, the HS BC Hong Kong, head of Wealth and personal banking, Maggie said, quote, we are proud that HS BC gold token powered by HS BC Orion is the first retail product in Hong Kong that is based on distributed ledger technology as authorized by the securities and futures commission. End quote. Three firms are seeking to create an A I collective to provide a decentralized alternative to existing projects that are controlled by big tech fetch A I singularity net and Ocean Protocol agreed to merge their tokens in order to create the alliance for decentralized A I native tokens of all three firms will be merged into a new token called A SI which stands for artificial superintelligence. A si will have a fully diluted market cap of around $7.5 billion. And Web three project. Munch balls suffered a hack that resulted in $62.5 million worth of Ether lost after a contract was maliciously manipulated. Munch said on X that the developer had shared all private keys to recover the funds, Blockchain sleuth. Zack X BT said the attacker was likely North Korean based on their github commit activity. They are listed on github as werewolves zero 493 and allegedly worked for the munch bulls team, several crypto developers and traders called for a trade rollback to help recover the funds. A rollback reverses a series of confirmed transactions and is typically done to under the effects of a hack or other malicious activities that result in theft. That's it for coin desk daily, get more updates on coindesk.com and we'll see you next time.