As soon as a crypto sceptic, the U.S. president has vowed to assist the business by easing regulatory curbs and has even launched his personal cryptocurrency, in a turnaround for the business after a sequence of crypto firm collapses in 2022.
Cryptocurrency costs surged to a report excessive after his election win, however have fallen this yr. Bitcoin is down about 12% from its peak as the worldwide commerce conflict and business considerations that the tempo of pro-crypto regulation underneath Trump is slower than anticipated, knocked sentiment.
Attendees on the TOKEN2049 convention, which is predicted to draw round 15,000 folks, thronged the venue, whereas a pair of camels rested unbothered by the loud tunes enjoying within the background.
They shared blended emotions about Trump’s impression on the business. “In the long run, it should be good for crypto, nevertheless it actually depends on the world financial system selecting up once more,” mentioned Miklos Veszpremi, the chief working officer of a web3-integrated streaming platform. “I believe that after the tariffs really begin hitting nations, there’s going to be numerous ache, and we is likely to be headed in the direction of some tough occasions,” he mentioned.
Nonetheless, the business loved a powerful begin to the yr as cash poured in.
International enterprise capital investments in crypto corporations totalled $5.4 billion within the first quarter of 2025, its finest quarter since mid-2022, in line with knowledge from PitchBook.
Attendee Herbert R. Sim, wrapped in a bitcoin-themed jacket, mentioned that predicting the impression of Trump insurance policies on the crypto sector was very arduous “however to date … (progress) is on the regulation aspect of issues.”
“Issues are easing up in America,” he mentioned, as builders, buyers and crypto followers weaved previous packed business advertising cubicles and joined queues to glide on exterior zip strains.
CRYPTO HUB
The United Arab Emirates is shortly rising as a key hub for crypto corporations, with a number of establishing store or in search of to develop.
Binance, the world’s largest crypto change, introduced in March that Abu Dhabi-backed funding group MGX had made a $2 billion crypto funding in it, deepening its ties with the UAE.
The change’s founder, Changpeng Zhao, who final yr served 4 months in jail after pleading responsible to violating U.S. legal guidelines towards cash laundering, was welcomed to the principle stage with cheers from the viewers.
Zhao stepped down as CEO of Binance as a part of a $4.3 billion settlement with U.S. authorities however stays a serious shareholder.
UAE authorities proceed to advertise crypto adoption.
Patrons for flats in a brand new deliberate tower in Dubai the Trump Group launched this week alongside a luxurious actual property developer will be capable to pay with bitcoin, Eric Trump mentioned.
Dubai’s Emirates NBD financial institution lately launched crypto buying and selling providers on its digital arm Liv and one of many metropolis’s largest free zones, the DMCC, which hosts greater than 600 crypto corporations, plans to open a “crypto tower” in early 2027 to host extra.
“It is a lot simpler to do enterprise right here,” mentioned Germany-based attendee Andre Liesenfeld, referring to Dubai.
