The world's largest cryptocurrency conference, Token2049, kicked off in Singapore on Wednesday, attracting a record-breaking 25,000 attendees amid growing adoption of digital assets by institutions and individuals globally, partly driven by a friendlier regulatory environment in the US.
Participants from more than 160 countries formed a queue stretching hundreds of metres outside the Marina Bay Sands convention centre in the morning. The two-day event features five simultaneous forums and hundreds of industry-related booths, complemented by live music, coffee stands and even a tattoo station.
Donald Trump Jnr, the oldest son of US President Donald Trump and co-founder of World Liberty Financial, was among the speakers.
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"It was a year ago on this very stage, they were making fun of what we're trying to do, and now we're the fastest-growing stablecoin ever," he said, promoting his venture and USD1, its stablecoin, to an enthusiastic crowd. "I think we're doing pretty good."
The annual gathering takes place at a pivotal moment, following a shift in the US regulatory approach to the cryptocurrency industry.
The Trump administration's supportive stance and promise to position America as a "bitcoin superpower" are opening doors for traditional institutions and investors to engage more actively with stablecoins and other crypto-based assets.
Token2049, a two-day-event, features five simultaneous forums and hundreds of booths. Photo: Zhou Xin alt=Token2049, a two-day-event, features five simultaneous forums and hundreds of booths. Photo: Zhou Xin>
Tim McCourt, global head of equities, forex and alternative products at US financial service firm CME Group, said it was an "exciting time for institutional adoption of crypto", noting that some research showed engagement had tripled this year.
"Every year we say it's better than last year. It's true again this year," he said.
Hunter Horsley, co-founder and CEO of Bitwise Asset Management, attributed the rise in adoption to the US regulatory changes and the proliferation of new investment vehicles like crypto exchange-traded funds.
"For the first time, mainstream investors - from wealth management to sovereign [wealth funds], hedge funds, institutional asset owners and retirement accounts - are all engaging and stepping forward," he said.
[SRC] https://finance.yahoo.com/news/singapores-token2049-worlds-biggest-crypto-093000912.html
