Multichain’s China situation could take more than a year to play out, says Fantom’s Andre Cronje

Quick Take

  • Fantom Foundation’s Andre Cronje and Michael Kong discuss Chinese authorities seizing $1 billion in crypto and Fantom’s exploration of optimistic rollups.

Episode 75 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro & Tim Copeland and Fantom Foundation's Andre Cronje & Michael Kong.

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Andre Cronje is the Director of the Fantom Foundation and Michael Kong is the CEO of the Fantom Foundation — the lead development team behind the Fantom Layer 1 blockchain.

In this episode, Cronje and Kong break down the sequence of events that led Chinese authorities to detain the Multichain CEO and seemingly take control of its network, and how Fantom developers are exploring optimistic rollups to connect to Ethereum.


00:35 - China's Multichain Crackdown

03:10 - Multichain Rumors & Speculation

08:21 - Fantom x Multichain

14:08 - $65M Frozen USDC + USDT

17:56 - Chinese Government or Hacker?

20:12 - Crypto's Trust Problem

27:47 - Multichain's Impact on Fantom's Ecosystem

33:45 - Active Investigation

35:38 - Fantom as an Ethereum Layer-2?

38:29 - Layer-2s vs. Bridges

46:45 - Andre Cronje's Role at the Fantom Foundation

47:35 - Closing Thoughts

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