The TOKEN2049 event, a two-day conference held in the desert metropolis, features prominent speakers including CEOs from leading crypto enterprises, digital asset executives from BlackRock and Goldman Sachs, and Eric Trump, son of the former U.S. President, who is scheduled to speak on Thursday.
Donald Trump, who was once a crypto skeptic, has pledged to support the sector by relaxing regulations and even introduced his own digital currency. This marks a significant transformation for the industry following a challenging period of crypto company failures in 2022.
After Trump’s election victory, cryptocurrency values initially soared to record highs, but have since experienced a decline this year. Bitcoin’s value has decreased by approximately 12% from its peak, influenced by global trade tensions and worries within the industry that Trump’s administration may be taking a slower-than-expected approach to pro-crypto regulations.
The TOKEN2049 conference, projected to draw around 15,000 participants, saw a bustling atmosphere at the venue, while two camels remained calm amidst the loud music.
Attendees expressed varied opinions on Trump’s influence on the digital currency landscape. Miklos Veszpremi, COO of a web3 streaming service, believes that “in the long term, it’s going to be good for crypto, but it really relies on the world economy picking up again.” He cautioned, “I think that once the tariffs actually start hitting countries, there’s going to be a lot of pain, and we might be headed towards some difficult times.”
Nevertheless, the cryptocurrency sector experienced a strong start to the year, attracting substantial investment.
According to PitchBook data, global venture capital investments in crypto companies reached $5.4 billion in the first quarter of 2025, marking the strongest quarter since mid-2022.
Herbert R. Sim, an attendee sporting a Bitcoin-themed jacket, stated that it’s difficult to foresee the precise consequences of Trump’s policies on the crypto space “but so far … (progress) is on the regulation side of things.”
“Things are easing up in America,” he added, as developers, investors, and crypto enthusiasts navigated through busy industry booths and waited in lines for outdoor zip line rides.
CRYPTO HUB
The United Arab Emirates is quickly becoming an important center for crypto businesses, with numerous firms establishing or expanding their operations.
Binance, the world’s largest crypto exchange, announced in March that MGX, an Abu Dhabi-backed investment group, had invested $2 billion in crypto, strengthening its ties with the UAE.
Changpeng Zhao, the exchange’s founder, who served a four-month prison sentence last year for violating U.S. anti-money laundering laws, received a warm welcome on the main stage.
Zhao resigned as Binance CEO as part of a $4.3 billion settlement with U.S. authorities, but he remains a significant shareholder.
UAE authorities are actively promoting the adoption of digital currencies.
Eric Trump announced that buyers of apartments in a new tower project in Dubai, launched by the Trump Organization in partnership with a luxury real estate developer, will have the option to pay using Bitcoin.
Emirates NBD, a Dubai-based bank, recently introduced crypto trading services through its digital platform, Liv. Additionally, DMCC, one of the city’s largest free zones, which is home to over 600 crypto companies, plans to open a “crypto tower” in early 2027 to accommodate more firms.
Andre Liesenfeld, an attendee from Germany, stated, “It’s much easier to do business here,” in reference to Dubai.
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