Many participants in industry hackathons are just looking to make some quick prize money and move on to the next contest — Dominic Kwok calls them “bounty hunters.”

But EasyA, the start-up for developers that he and his brother Phil started four years ago, is looking for a different type of competitor — those who are looking to build companies that can have a significant impact on Web3. It’s an approach that has proved fruitful, with the companies coming out of EasyA’s app community and monthly in-person hackathons having raised money at a collective valuation of over $3 billion from top VC firms such as a16z crypto and CMT Digital. And EasyA’s mobile app, which helps developers easily start building their own Web3 projects, has over a million users worldwide.

At the first EasyA Consensus hackathon in Austin last May, more than 700 participants launched 100 different crypto projects, and the Kwoks are expecting similar numbers for upcoming events at Consensus Hong Kong and Consensus Toronto (if you’d like to apply for the EasyA Hackathon at Consensus Hong Kong 2025, please go here).

Here they discuss why their unique approach to hackathons, how they expect Consensus Hong Kong will differ from hackathons in other parts of the world and how Donald Trump’s election could affect the types of projects crypto developers focus on.

This series is brought to you by Consensus Hong Kong. Come and experience the most influential event in Web3 and Digital Assets, Feb.18-20. Register today and save 15% with the code CoinDesk15.

This interview has been condensed and lightly edited for clarity.

How did EasyA get started?

Dominic: So we originally launched EasyA about four years ago as the go to place for anyone to learn about the world’s best blockchains. Anyone can use the EasyA app on iOS and Android to learn about the top Layer Ones out there, like Solana, Polkadot, Stellar and Ripple’s XRP Ledger. And people can learn how to not only develop, but also launch their own projects. We also host a lot of big hackathons in person all around the world, in which hundreds of people come in person and launch projects on our blockchain partners. And the goal is to get these people not just launching, but then also founding and building startups that go on to get funded by the ecosystem and VCs.

How do you approach hackathons differently than other companies that run these?

Dominic: Two things. The first is that EasyA is very focused on founders who want to start their own companies, versus hackathon “bounty hunters.” We really want to make sure that our participants actually stick around and build their projects because that’s where we see the future of Web3 really being built from. And the second thing is most of our hackathons are single chain, so participants focus on one piece of tech and they actually launch on that one, as opposed to focusing on 50 different chains. We want to put people in front of the best ecosystems that have the most support for developers.

How do you think the Consensus hackathon in Hong Kong will be different from those you hold in other parts of the world?

Dominic: The scale is just going to be super big. We’ve already had a record number of people apply for the seats in the arena. We’ll obviously have people from Hong Kong, but then also from other Asian countries like India, Indonesia, Vietnam, Malaysia, Singapore and China. And we’re also seeing huge numbers of people from the West want to come. For many of those people, it’ll be the first time they’ve actually been to Asia.

Do you expect there to be differences in the types of projects that developers in Asia pursue, as opposed to those in other parts of the world?

Phil: There’s a geographical element and then there’s also a thematic one. A huge theme that we’ve seen come up over the past couple of weeks is AI x Web3, and a lot of developers are excited about that intersection. We’ve also seen protocols like virtuals really kick off and become very successful, so I think we’ll see a lot of that. Geographically, in Asia there are obviously so many different currencies, and we’re seeing that developers there actually understand those cross-border use cases a lot better. If you’re a U.S.-based developer, you don’t necessarily see those friction points a ton. So I think that we’re going to see a lot more of the cross border payment solutions start to flesh themselves out.

How do you think Donald Trump’s presidency will affect the kinds of projects you see at your hackathons?

Phil: Obviously DeFi has always been one of the biggest areas of product market fit in crypto — arguably one of the few that actually has that fit. But so far because of, frankly, how scared a lot of developers were in the States, a lot of people just weren’t building nor launching in the U.S. And so you’d often go on to a decentralized app and it’ll say “Oh, you’re in the States, you can’t use this.” So that’s a very visible area where we’re going to start seeing changes. Another area where you can’t participate if you’re from the U.S. is airdrops. So if you are an end user, you couldn’t really access a lot of crypto. And if you wanted to target this demographic, which of course is the wealthiest in the world, you couldn’t. So I think DeFi is really going to explode, especially in the States.

Both of you are also speakers at Consensus Hong Kong. What will you be talking about?

Dominic: Our keynote will be about why it’s so hard right now for Web3 ecosystems to attract developers now. And we’re going to be giving some of our tips on how they can attract developers more easily and at a bigger scale. Right now, Web3 firms are competing over the same developers, and the growth of Web3 devs has pretty much stagnated. And obviously at EasyA, our whole mission is actually to bring way more developers into the space. That starts with making it easy. But we’re also making several big tech upgrades that will allow developers to build much more easily on-chain. And we’re going to be revealing those on stage.

As the co-founder and general partner at early stage venture capital fund Race Capital, Edith Yeung has had a front-row seat on the development of the crypto sector, particularly in Hong Kong, where she was born and raised. Most notably, she was a seed investor in Solana, investing $250,000 when SOL was valued at just $0.04, and also was an early investor in Lightning Network. Since 2017, Yeung has also authored the China Internet report, an influential annual survey of technology trends in China.

Here, Yeung, who will be a speaker at Consensus Hong Kong, discusses Hong Kong’s ongoing development as a crypto hub, her take on China’s stance towards crypto, what she foresees for Solana and one big crypto prediction for 2025.

This series is brought to you by Consensus Hong Kong. Come and experience the most influential event in Web3 and Digital Assets, Feb.18-20. Register today and save 15% with the code CoinDesk15.

Interview has been condensed and lightly edited for clarity.

How do you see crypto regulations developing in HK in 2025? Do you think more crypto companies will become licensed by the SFC in 2025?

It’s exciting to see that Hong Kong now has seven SFC-licensed virtual asset trading platforms. From an investor’s perspective, having a clear licensing regime is a major step forward. Regulatory clarity and predictability are like well-lit roads — they give investors the confidence to drive forward without worrying about unexpected detours.

That said, licensing alone isn’t enough. Liquidity is the other critical piece of the puzzle. Think of a trading platform like a brand-new highway: you can have the smoothest pavement and clearest signs, but if no cars are on it, drivers won’t bother. Similarly, no matter how many licenses you have, if there’s no active trading and liquidity, investors will hesitate to come aboard.

The key for Hong Kong now is to build not just the infrastructure but the traffic flow — because a great platform without liquidity is like an empty highway going nowhere.

What kind of role do you see Hong Kong developing in terms of the crypto sector, especially in relation to the US? What about Asia more broadly?

Hong Kong is the New York of Asia. Exchange Square is basically Wall Street — a 24/7 financial powerhouse with soaring skyscrapers and streets full of traders, investors and bankers with energy that never quits. If you are a crypto builder or investor, you will find many TradFi talents (traders, market makers, etc.) in Hong Kong.

To build a successful TradFi or DeFi company, you need to recruit specific types of talent that are hard to find even in Silicon Valley. Hong Kong boasts a rich financial history, with its stock market origins dating back to 1866 — over 150 years — means there is a deep pool of experienced professionals who can drive innovation and growth in your venture.

What would you say is distinctive about HK/Southeast Asia for crypto compared to the US and Europe?

The U.S. is home to the largest crypto addressable market in terms of institutional investors, regulators and builders. But Asia is home to the highest growth potential for the crypto market. In 2024, half of the top 10 countries in the world ranked by crypto adoption were located in Asia.

With the new Trump administration, the U.S. will continue to set the tone for crypto regulation and institutional adoption (e.g., BlackRock ETF). Asia will follow their lead with its massive usage base that is young and crypto-native.

Do you view China as generally pro or anti-crypto? There’s been a lot of crypto activity there, but at the same time, the government is officially against mining and speculation.

Hong Kong is part of China. Seeing pro-crypto regulation slowly forming in Hong Kong is a great sign and indicator for China. That said, China literally has an army of 220 million retail investors sitting on almost $21 trillion worth of savings. With a lingering property crisis and a meek economy, however, it is very difficult to say when China will open up for crypto business again, as the government focuses on these larger issues.

You were a seed investor in Solana; do you still have your initial investment there? Do you think Solana will continue to attract as much memecoin activity as it did in 2024?

Yes. It was an honor that I got to meet Solana co-founders Anatoly Yakovenko and Raj Gokal and become their seed investor back in March 2018. I am a long-term Solana holder and supporter. What I love about them is their dedication to building and their support for the developer community. The developer energy at the 2024 Breakpoint conference was high not only because of memecoins.

The Firedancer team made huge technical advances last year, and I just love that Anatoly is still head-down geeking out with people like Jump Trading chief science officer Kevin Bowers and his team every day. Even more exciting to me is seeing traditional finance players like Fidelity, Citi and PayPal speaking at Breakpoint about what they are building on Solana. This influx of established players not only validates Solana’s future but also signals that blockchain technology is ready for the masses.

What kinds of companies are you currently looking to invest in and why?

I am a seed investor in Huma Finance — a leader in PayFi building on Solana and a leader in stablecoin infrastructure. In 2024, they did over $2 billion in stablecoin transactions. At Race Capital, we will continue to focus on investing in internet infrastructure. Builders who want to be around long-term do not mind whether it’s an up or down cycle.

What’s something you think will happen in 2025 that will surprise crypto folks?

The establishment of a U.S. Bitcoin Reserve by the end of 2025. The United States is currently the largest holder of Bitcoin, with approximately 207,189 bitcoins. This effort will be bolstered by this massive stockpile, which is now valued at over $20 billion at current prices. This decision is expected to drive up bitcoin prices, prompting other governments around the world to follow suit.

What are you most excited to discuss onstage in Hong Kong?

Hong Kong’s role in building the crypto industry in 2025, China’s love/hate relationship with crypto and perhaps more insights on Solana.