The majority of cryptors arrived in Dubai on Wednesday, which sank into the heat of the desert as the skeptics were stacked at the house about whether President Donald Trump was actually delivering everything he promised.
They are not just there for vibes. Nearly 15,000 people were packed at the token2049 conference as the heat chocked in the city, trying to determine if the global condition could remain bullish despite the interest in Trump's crypto stance began to sink.
The conference lined executives from major crypto companies, along with top names from Blackrock and Goldman Sachs. Even Eric Trump is on the agenda. He expects to talk on Thursday.
Trump, now sitting in the White House, sometimes hated crypto. That didn't stop him from spinning and launching his own coin while saying he could easily run into the US crypto space. But price charts are not amazing.
Bitcoin struck a record after he won, but this year, it dropped about 12%, dragging fears of the trade war and slowing down from his team by cutting red tape.
In the area, attendees did not hide their mixed emotions. Miklos Veszpremi, chief operating officer of a web3 -based platform, said the long -term potential still exists but warned that a collapse could come if the tariffs begin to bite.
“In the long term, it would be good for crypto, but it really relies on the world's economy re -selective,” Miklos Says. “In my opinion, once the tariffs are really starting to hit the countries, there will be a lot of pain, and we may go to some difficult times.”
Investors are pushing while US mood slides
The conference occurs at a strange time. Optimism is not lost, but it is definitely broken. Even so, crypto investments do not slow down. The $ 5.4 billion in venture capital was poured into crypto companies in the first three months of 2025. It was the biggest quarterly flow since mid-2022. And we're just not money.
People come from everywhere. In the midst of the noise and the crowd, Herbert R. Sim moved around in a bitcoin jacket, trying to make sense of Trump's impact. “It is very difficult to predict the impact of Trump's policies in the crypto sector,” Herbert said. “But for now … Development is part of the regulation of things.”
So far, the most obvious shift is that it can work more easily within America, even if the speed is slower than the promised. “Things are easing America,” he added, as the zip lines on the outside brought people to tents with a crypto brand.
The event itself had a chaotic energy. People sank between booths and giant branded displays, while the two camels stood around like another Wednesday. Strong EDM tracks exploded as investors tried to talk to the business.
Dubai grows stronger as US leaders
While Trump trust is fading, Dubai becomes a serious player. The United Arab Emirates has become a real base for crypto companies. Much is either relocating or expanding in the region. In March, Binance announced that MGX, a fund supported by Abu Dhabi, set $ 2 billion in exchange.
It was the same Binance that founder Changpeng Zhao, served for four months in prison after seeking a sin to break the US anti-money laws. However, the cheers greeted him as he walked to the stage. CZ came down as the CEO of Binance after arranging with US officials in a $ 4.3 billion deal, but he still owned a large chunk of the company.
UAE regulators are not running. They do the opposite. Consumers who want apartments in a new tower project launched in Dubai this week – one is tied to the Trump organization and a luxury of developing – can pay in Bitcoin, Eric Trump confirmed.
That's not all. Emirates NBD, a major bank in Dubai, rolls in the crypto trade on its digital platform, Liv. Meanwhile, at the DMCC, a major free zone with more than 600 crypto companies, plans are being conducted to launch a full “crypto tower” in early 2027. That tower is Mago -Host more companies, pushing Dubai even deeper into the middle of the crypto map.
For many of most, Dubai just makes sense, thanks to the relaxing approach compared to Washington's endless regulation.
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