{"id":294848,"date":"2025-05-01T09:17:31","date_gmt":"2025-05-01T09:17:31","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/05\/01\/crypto-industry-descends-on-dubai-as-trump-euphoria-recedes\/"},"modified":"2025-05-01T09:17:31","modified_gmt":"2025-05-01T09:17:31","slug":"crypto-industry-descends-on-dubai-as-trump-euphoria-recedes","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/05\/01\/crypto-industry-descends-on-dubai-as-trump-euphoria-recedes\/","title":{"rendered":"Crypto Industry Descends on Dubai as Trump Euphoria Recedes"},"content":{"rendered":"
\"Crypto<\/div>


\n<\/p>\n

\n

Crypto\u00a0enthusiasts descended on\u00a0Dubai\u00a0on Wednesday, gathering under the Gulf’s scorching sun and hoping the\u00a0industry’s buoyant mood can keep going despite signs the\u00a0euphoria\u00a0around Donald\u00a0Trump’s\u00a0crypto\u00a0stance is ebbing.<\/p>\n

Speakers at the two-day event in the desert city include chief executives at some of the world’s major\u00a0crypto\u00a0firms, the head of digital assets at BlackRock<\/a> and Goldman Sachs<\/a>, as well as the US president’s son, Eric\u00a0Trump, who is set to take the stage on Thursday.<\/p>\n

Once a\u00a0crypto\u00a0sceptic, the US president has vowed to support the\u00a0industry\u00a0by easing regulatory curbs and has even launched his own\u00a0cryptocurrency, in a turnaround for the\u00a0industry\u00a0after a series of\u00a0crypto\u00a0company collapses in 2022.<\/p>\n

Cryptocurrency<\/a> prices surged to a record high after his election win, but have fallen this year. Bitcoin<\/a> is down about 12 percent from its peak as the global trade war and\u00a0industry\u00a0concerns that the pace of pro-crypto\u00a0regulation under\u00a0Trump\u00a0is slower than expected, knocked sentiment.<\/p>\n

Attendees at the TOKEN2049 conference, which is expected to attract around 15,000 people, thronged the venue, while a pair of camels rested unbothered by the loud tunes playing in the background.<\/p>\n

They shared mixed feelings about\u00a0Trump’s<\/a> impact on the\u00a0industry.<\/p>\n

“In the long term, it’s going to be good for\u00a0crypto, but it really relies on the world economy picking up again,” said Miklos Veszpremi, the chief operating officer of a web3-integrated streaming platform.<\/p>\n

“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,” he said.<\/p>\n

Still, the\u00a0industry\u00a0enjoyed a strong start to the year as money poured in.<\/p>\n

Global venture capital investments in\u00a0crypto\u00a0companies totalled $5.4 billion (roughly Rs.\u00a045,718 crore) in the first quarter of 2025, its best quarter since mid-2022, according to data from PitchBook.<\/p>\n

Attendee Herbert R. Sim, wrapped in a bitcoin-themed jacket, said that predicting the impact of\u00a0Trump\u00a0policies on the\u00a0crypto\u00a0sector was very hard “but so far … (progress) is on the regulation side of things.”<\/p>\n

“Things are easing up in America,” he said, as developers, investors and\u00a0crypto\u00a0fans weaved past packed\u00a0industry\u00a0marketing booths and joined queues to glide on outside zip lines.<\/p>\n

Crypto Hub<\/strong><\/p>\n

The United Arab Emirates is quickly emerging as a key hub for\u00a0crypto\u00a0companies, with several setting up shop or seeking to expand.<\/p>\n

Binance<\/a>, the world’s largest\u00a0crypto\u00a0exchange, announced in March that Abu Dhabi-backed investment group MGX had made a $2 billion (roughly Rs.\u00a016,932 core)\u00a0crypto\u00a0investment in it, deepening its ties with the UAE.<\/p>\n

The exchange’s founder, Changpeng Zhao<\/a>, who last year served four months in prison after pleading guilty to violating US laws against money laundering, was welcomed to the main stage with cheers from the audience.<\/p>\n

Zhao stepped down as CEO of Binance as part of a $4.3 billion (roughly Rs.\u00a036,405 crore) settlement with US authorities but remains a major shareholder.<\/p>\n

UAE authorities continue to promote\u00a0crypto\u00a0adoption.<\/p>\n

Buyers for apartments in a new planned tower in\u00a0Dubai\u00a0the\u00a0Trump\u00a0Organization launched this week alongside a luxury real estate developer will be able to pay with bitcoin, Eric\u00a0Trump\u00a0said.<\/p>\n

Dubai’s Emirates NBD bank recently launched\u00a0crypto\u00a0trading services on its digital arm Liv and one of the city’s largest free zones, the DMCC, which hosts more than 600\u00a0crypto\u00a0firms, plans to open a “crypto\u00a0tower” in early 2027 to host more.<\/p>\n

“It’s much easier to do business here,” said Germany-based attendee Andre Liesenfeld, referring to\u00a0Dubai.<\/p>\n

\u00a9 Thomson Reuters 2025<\/em><\/p>\n

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)<\/i><\/p>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto\u00a0enthusiasts descended on\u00a0Dubai\u00a0on Wednesday, gathering under the Gulf’s scorching sun and hoping the\u00a0industry’s buoyant mood can keep going despite signs the\u00a0euphoria\u00a0around Donald\u00a0Trump’s\u00a0crypto\u00a0stance is ebbing. Speakers at the two-day event in the desert city include chief executives at some of the world’s major\u00a0crypto\u00a0firms, the head of digital assets at BlackRock and Goldman Sachs, as well as […]<\/p>\n","protected":false},"author":2,"featured_media":294849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/i.gadgets360cdn.com\/large\/large_-_2025-05-01T132330543_1746086098021.jpg","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[4251,229304,94679,1207,15257,617,229306,229305,52,20693],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/294848"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=294848"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/294848\/revisions"}],"predecessor-version":[{"id":294850,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/294848\/revisions\/294850"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/294849"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=294848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=294848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=294848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}