DUBAI (Reuters) – Crypto lovers are coming down to Dubai on Wednesday to gather under the burnt sun on the Gulf Coast and hope that the industry will continue to have a buoyant mood despite the decline in happiness around Donald Trump’s crypto stance.
Speakers at the two-day event in the Desert include the head of digital assets at BlackRock and Goldman Sachs, the world’s leading crypto companies, and the chief executive of Eric Trump’s digital assets, who is scheduled to take the stage Thursday.
The former crypto skeptic, the US president vowed to support the industry by easing regulatory curbs in an industry shift after a series of crypto companies collapsed in 2022, and even launched his own cryptocurrency.
Cryptocurrency prices have surged to record highs after winning his election, but have fallen this year. Bitcoin is down about 12% from its peak as the world trade war and industry are concerned that the pace of Trump-based pro-cryptography restrictions is slower than expected.
Participants at the Token2049 conference, which is expected to attract around 15,000 people, flocked to the venue and were not bothered by the big songs being played in the background.
They shared mixed feelings about Trump’s impact on the industry.
“In the long run, that’s going to be good for crypto, but it really depends on the global economy recovering again,” says Miklos Veszpremi, chief operating officer of the Web3 integrated streaming platform.
“When tariffs actually start to collide with the country, there’s a lot of pain and I think we might be heading into some difficult times,” he said.
Still, the industry enjoyed a strong start to the year as money was poured in.
According to data from Pitchbook, global venture capital investments in Crypto companies totaled $5.4 billion in the first quarter of 2025, the highest quarter since mid-2022.
Herbert R. Sim, the attendee, wrapped in a Bitcoin-themed jacket, said it would be extremely difficult to predict the impact of Trump’s policies on the crypto sector.
“Things are easing in America,” he said as developers, investors and crypto fans weave past packed industry marketing booths, joined the queue and glided outside the ZIP line.
Crypto hub
The United Arab Emirates is rapidly emerging as a key hub for crypto companies, looking to establish and expand several stores.
Binance, the world’s largest crypto exchange, announced in March that Abu Dhabi-backed investment group MGX had deepened its relationship with the UAE by making a $2 billion crypto investment.
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