TOKEN2049 Singapore: Major Crypto Conference Draws 25,000 Attendees as Asia's Digital Asset Market Thrives

Around 25,000 attendees gathered at the two-day TOKEN2049 conference that concluded on Thursday in Singapore, highlighting the growing enthusiasm in the cryptocurrency industry.

Singapore hosted a vibrant crypto gathering where speakers discussed predictions about multi-trillion dollar stablecoin markets and praised former US President Donald Trump's support for the digital asset ecosystem.

The high-profile TOKEN2049 conference attracted approximately 25,000 participants who collected promotional items from crypto companies while listening to notable speakers including Donald Trump Jr. and entrepreneur Justin Sun.

This annual Singapore event took place during a significant boom period for Asia's crypto market. According to blockchain analytics firm Chainalysis, total cryptocurrency transaction volume in the region increased to $2.36 trillion as of June, up from $1.4 trillion the previous year.

The conference further strengthened Singapore's position as an aspiring global cryptocurrency hub, despite previous high-profile market crashes that led authorities to enhance regulatory oversight in the sector.

Attendees enjoyed a festival-like atmosphere with various activities including ziplines offering free backpacks, temporary tattoos, cryotherapy chambers, and pickleball games, all accompanied by DJs playing energetic music throughout the venue.

"When I came in this morning and I heard the music, I had chills," remarked Hubert Tang, a 60-year-old operations team member at a Singapore investment academy. "How can this not be the new era?"

The conference at Marina Bay Sands' five-story convention center spawned numerous side events, including over 120 parties and dinners, plus a fight night featuring crypto industry participants boxing against each other.

Nine yacht parties and exclusive events at local nightclub Zouk were arranged for 500 conference attendees on Thursday, with the venue accepting various cryptocurrencies as payment, including Bitcoin, Ethereum, USDC, Tether, and Binance Pay.

Bo Hines, former White House crypto policy executive and current CEO of Tether's new US-based stablecoin venture, referenced Treasury Secretary Scott Bessent's prediction that "the stablecoin global market cap would be above $1 trillion in the next couple of years."

Hines added, "It's a very conservative estimate. I think it can be much greater than that."

Unlike the mixed reactions about Trump's influence on crypto at the Dubai TOKEN2049 conference in May, the Singapore edition showed widespread optimism regarding his support for the industry.

Trump, once skeptical about cryptocurrencies, has launched his own digital currency and backed legislation to create regulatory frameworks for stablecoins, which are cryptocurrencies pegged to the US dollar.

"President Trump has single-handedly saved the crypto industry from people who wanted to ruin it, and he's brought crypto back to its rightful home, the United States of America," declared Zach Witkoff, son of Trump's special envoy to the Middle East, while sharing the stage with Donald Trump Jr.

Both Witkoff and Trump Jr. expressed bullish views on cryptocurrencies and discussed the industry's progress under the Trump administration, often receiving cheers from the audience.

"I think stablecoins are going to be the thing that backfills all of these countries that used to buy US Treasuries," Trump Jr. stated.

"We're going to do that, and that's going to create and maintain the dollar hegemony that's allowed America to lead, that's allowed us to have the power over the world that has kept so many places safe, sound and strong."

Ophelia Wong, a 62-year-old from the food and agriculture industry, flew in from Hong Kong specifically for the event, marking her third attendance at the Singapore conference.

When asked to describe the industry in one word, Wong, who began investing in crypto last year, simply said, "Booming. It's an irreversible journey."