Key Takeaways
- • Jeff Yew, former head of Binance Australia and current CEO of Monochrome Asset Management (AUS$128 million in Bitcoin ETF assets), is in preliminary discussions to establish a technology campus at Forest City following the July 2026 shutdown of Balaji Srinivasan's Network School.
- • The proposed venture targets a "Malaysia first" approach emphasizing local talent development and entrepreneurship while attracting overseas specialists in artificial intelligence, blockchain, and computer science—a strategic pivot from the Network School model.
- • Forest City, a US$100 billion development in southern Malaysia, faces sluggish sales and seeks repositioning as a regional technology hub; Yew's initiative could utilize vacant campus infrastructure left by Network School's collapse.
- • Yew's framework includes potential local scholarship programs and explicit commitment to respecting Malaysian regulatory authority, addressing concerns that triggered Network School's operational shutdown following an immigration probe.
- • The broader ambition positions Johor state as a digital hub for emerging technology sectors, leveraging Malaysia's geographic and regulatory advantages in the regional tech ecosystem.
Summary
Jeff Yew, a Malaysian cryptocurrency investor and former Binance Australia executive, is exploring plans to revive a technology campus at Forest City following the abrupt collapse of entrepreneur Balaji Srinivasan's Network School in July 2026. According to Bloomberg, Yew has entered preliminary discussions with Srinivasan's team regarding the vacant facility within the US$100 billion Malaysian development project. The initiative represents a potential second opportunity for Forest City to establish itself as a credible regional technology hub after sluggish early sales performance.
Yew currently serves as head of Monochrome Asset Management, an Australian-listed Bitcoin exchange-traded fund managing approximately AUS$128 million in assets. His proposed approach diverges meaningfully from the Network School model, prioritizing what he terms a "Malaysia first" emphasis on developing local entrepreneurial talent while strategically recruiting international specialists. In remarks to Bloomberg, Yew stated: "It's about a balance of attracting talent overseas and also nurturing local entrepreneurs," while signaling interest in establishing local scholarship programs to support capacity building.
The broader strategic vision extends beyond Forest City itself. Yew aims to position Johor state as a regional digital hub specializing in artificial intelligence, blockchain, and computer science—sectors identified as growth priorities for Malaysia's technology economy. Critically, Yew has emphasized that any new venture must be constructed around Malaysian national interests and explicit commitment to respecting local authorities. This positioning directly addresses regulatory concerns that precipitated Network School's shutdown following an immigration investigation, suggesting a compliance-first framework designed to secure long-term governmental cooperation.
The timing reflects immediate opportunity in repositioning abandoned infrastructure. Forest City's developer has struggled to demonstrate the mixed-use technology and residential concept as viable, making a functioning crypto and technology sector presence valuable for both asset utilization and market credibility. Yew's preliminary-stage discussions with Srinivasan's team indicate active exploration rather than finalized commitment, though the convergence of available infrastructure, sector interest, and regulatory lessons from Network School's failure creates plausible conditions for advancement.
Yew currently serves as head of Monochrome Asset Management, an Australian-listed Bitcoin exchange-traded fund managing approximately AUS$128 million in assets. His proposed approach diverges meaningfully from the Network School model, prioritizing what he terms a "Malaysia first" emphasis on developing local entrepreneurial talent while strategically recruiting international specialists. In remarks to Bloomberg, Yew stated: "It's about a balance of attracting talent overseas and also nurturing local entrepreneurs," while signaling interest in establishing local scholarship programs to support capacity building.
The broader strategic vision extends beyond Forest City itself. Yew aims to position Johor state as a regional digital hub specializing in artificial intelligence, blockchain, and computer science—sectors identified as growth priorities for Malaysia's technology economy. Critically, Yew has emphasized that any new venture must be constructed around Malaysian national interests and explicit commitment to respecting local authorities. This positioning directly addresses regulatory concerns that precipitated Network School's shutdown following an immigration investigation, suggesting a compliance-first framework designed to secure long-term governmental cooperation.
The timing reflects immediate opportunity in repositioning abandoned infrastructure. Forest City's developer has struggled to demonstrate the mixed-use technology and residential concept as viable, making a functioning crypto and technology sector presence valuable for both asset utilization and market credibility. Yew's preliminary-stage discussions with Srinivasan's team indicate active exploration rather than finalized commitment, though the convergence of available infrastructure, sector interest, and regulatory lessons from Network School's failure creates plausible conditions for advancement.
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