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TOKEN2049 Singapore: Ziplines, DJs and Trump Set the Tone for a Booming Crypto Scene

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The TOKEN2049 Singapore conference this week felt more like a festival than a finance event — complete with ziplines, DJs, yacht parties, and high-profile appearances from Donald Trump Jr. and other crypto leaders who hailed the growing influence of U.S. President Donald Trump on the digital assets industry.

At the two-day gathering that ended Thursday, over 25,000 participants packed the Marina Bay Sands convention centre, picking up branded merchandise, joining side events and listening to speakers such as Trump Jr. and TRON founder Justin Sun. The mood was upbeat, reflecting renewed optimism across the crypto world and Asia’s expanding digital asset market.

According to Chainalysis, total crypto transaction volume in Asia reached $2.36 trillion by June 2025 — a massive leap from $1.4 trillion a year earlier. TOKEN2049’s turnout highlighted Singapore’s ambitions to cement itself as a global crypto hub, even as the city-state’s regulators tighten oversight after a series of exchange collapses.

A CARNIVAL OF CRYPTO CULTURE

The event blurred the line between business and entertainment. Attendees zipped across a line for free backpacks, got airbrushed tattoos, tested cryotherapy chambers, and played pickleball, while DJs blasted music from every floor.
“When I came in this morning and I heard the music, I had chills,” said Hubert Tang, a 60-year-old operations executive from Singapore. “How can this not be the new era?”

More than 120 side events — from exclusive dinners to a fight night featuring crypto executives in a boxing ring — took over the city. On Thursday, nine yacht parties and local club Zouk were booked out for TOKEN2049 guests, accepting payments in Bitcoin, Ethereum, USDC, Tether, and Binance Pay.

TRUMP FAMILY TAKES THE STAGE

At the heart of the conference was the Trump family’s growing alignment with the crypto industry.
“President Trump has single-handedly saved the crypto industry from people who wanted to ruin it,” said Zach Witkoff, CEO of Tether’s U.S.-based stablecoin venture and son of Trump’s Middle East envoy Steve Witkoff, sitting next to Donald Trump Jr. on stage.
Their comments — praising the president’s stablecoin regulatory law and pro-crypto stance — drew loud cheers from attendees.

Trump Jr. argued that stablecoins will soon underpin global finance:

“I think stablecoins are going to be the thing that backfills all of these countries that used to buy U.S. Treasuries,” he said. “That’s going to maintain the dollar’s hegemony and keep the world safe and strong.”

PREDICTIONS AND INDUSTRY MOMENTUM

The conference also featured policy discussions and market forecasts, with former White House crypto adviser Bo Hines saying the stablecoin market could exceed $1 trillion within a few years — a figure he called “very conservative.”

The event underscored how Trump’s shift from crypto sceptic to industry advocate has reshaped U.S. policy and investor sentiment. His administration’s pro-innovation regulatory framework has sparked a flood of venture capital into blockchain and DeFi firms.

THE NEW CRYPTO ERA

Attendees like Ophelia Wong, a 62-year-old from Hong Kong who attended TOKEN2049 for the third time, summed up the prevailing sentiment in one word:

“Booming,” she said. “It’s an irreversible journey.”

As the music faded and the yachts returned to the docks, TOKEN2049 left one clear message: crypto’s next chapter is being written — with Asia, and Trump’s America, at the center of it.

Hong Kong’s HashKey to Launch $500M Digital Treasury Fund

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HashKey Group, Hong Kong’s leading licensed crypto exchange and digital asset manager, announced plans to launch a $500 million Digital Asset Treasury (DAT) fund, joining the wave of firms adopting bitcoin-style treasury strategies pioneered by U.S. software firm MicroStrategy (MSTR.O).

MicroStrategy, which began stockpiling bitcoin in 2020, now holds more than $63 billion in crypto, inspiring “copycats” worldwide. Collectively, such treasury adopters have amassed nearly 100,000 bitcoin, according to Standard Chartered.

HashKey said the fund will create a diversified DAT portfolio, initially focused on the Bitcoin and Ethereum ecosystems, with the goal of advancing crypto asset standardization and fostering a sustainable Web3 infrastructure.

“The strategy is not just a U.S. phenomenon — it’s spreading across Hong Kong, Japan, and other equity markets,” Binance founder Changpeng Zhao said at a recent Hong Kong bitcoin conference, noting how DAT adoption is gaining traction in Asia.

Founded in 2018, HashKey Group offers services spanning asset management, brokerage, tokenization, and runs Hong Kong’s largest licensed crypto exchange. By leveraging its global footprint, HashKey said it plans to both initiate and invest in leading DAT projects, accelerating institutional-grade adoption of blockchain technologies.

Coinbase Acquires Spindl, an Onchain Ad Platform, to Enhance Visibility of Web3 Projects on Base

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Coinbase has recently made a strategic move to enhance the visibility of Web3 projects on its Layer-2 network, Base, by acquiring Spindl, an onchain advertising platform. The details of the acquisition, including the financial terms, have not been disclosed. This acquisition signals Coinbase’s commitment to supporting the growth and outreach of Web3 developers and projects, helping them gain traction within the Web3 community. By integrating Spindl’s capabilities, Coinbase aims to provide a much-needed marketing avenue for projects, allowing them to grow their presence in the onchain ecosystem.

Base, Coinbase’s Ethereum-based Layer-2 blockchain, has been in operation since its launch in August 2023. According to the platform’s official site, Base has already attracted a wide user base, with thousands of developers spanning over 190 countries utilizing the network to build innovative Web3 projects. The growth of Base has been fueled by the increasing interest in decentralized technologies, and Coinbase’s efforts to expand its offerings have positioned it as a prominent player in the Layer-2 space.

Jesse Pollak, the creator of Base, expressed enthusiasm about the acquisition, emphasizing the importance of expanding the reach of Web3 developers. On X (formerly Twitter), Pollak highlighted that many Web3 builders have voiced the need for better marketing opportunities. With the addition of Spindl’s onchain advertising solutions, Coinbase aims to meet this demand and provide developers with the tools they need to gain visibility and recognition.

This acquisition is a clear indication that Coinbase is focused on empowering the Web3 community by offering more comprehensive support, not just in terms of technology but also in marketing and outreach. By bridging the gap between developers and their target audience, Coinbase is positioning itself as a leader in the evolving Web3 ecosystem, with a particular emphasis on making it easier for promising projects to achieve widespread adoption and success.