What Crypto Leaders Really Took Home from TOKEN2049 Dubai

TOKEN2049 Dubai introduced collectively the largest names in crypto, however past the packed levels and polished decks have been frank takes on market actuality, strategic pivots, and what’s quietly driving the following wave of innovation. 

We requested main builders, analysts, and executives to drop the pitch decks and converse plainly. Here’s what you should know—direct from the supply.

From your vantage level, what was the true sign at TOKEN2049 Dubai—not the hype, however the one shift or dialog that’s more likely to affect how this business strikes in Q2 and past?

Eowyn Chen (CEO of Trust Wallet): The actual sign was the rising motion of US and European funds towards Dubai, not simply visiting, however actively organising native operations. Many are in search of extra regulatory readability and operational freedom, and the UAE is rising as a strategic base for that.

This shift is fostering a brand new regional ecosystem, the place innovation in buying and selling, lending, and each on-chain and off-chain yield methods is accelerating. That monetary infrastructure focus, not simply client or cultural buzz, was the core theme quietly shaping Q2 and past.

Vivien Lin (Chief Product Officer at BingX): TOKEN2049 marked a transition from speculative hype to institutional maturity, regulatory alignment, and long-term infrastructure improvement. 

What stood out wasn’t simply the bulletins, however the convergence of builders, policymakers, and capital in a means that made Dubai really feel like greater than a venue.

Instead of chasing the following meme coin, the intense conversations have been about utility, DeFi–CeFi convergence, and international management in Web3.

Rather a lot was mentioned about institutional flows and market construction. Based on what you noticed and heard throughout the occasion, do you consider institutional demand is lastly translating into significant quantity, or is it nonetheless principally narrative?

Eowyn: Institutional demand is not theoretical—it’s turning into measurable. That mentioned, the expansion is uneven. There’s rising quantity and experimentation, significantly in funds and liquidity provisioning. But product-market match remains to be growing in sure areas, together with stablecoins and self-custodial wallets.

The twin alternative—between markets just like the UAE and the US—makes this a pivotal second for constructing the correct regulatory and infrastructure foundations to show demand into sturdy quantity.

Griffin Ardern (Head of BloFin Research and Options): Institutional demand has already translated into significant buying and selling quantity. IBIT’s AUM has surpassed TLT, and Tether has change into the Tenth-largest holder of US Treasury bonds and one of many most important gamers in T-bills.

However, establishments’ preferences are considerably completely different from these of crypto natives. Most transactions revolve round BTC and stablecoins, whereas the proportion of transactions for different cryptocurrencies is considerably decrease than the market common. Of course, crypto native establishments are nonetheless making an attempt to revenue from altcoins. Still, {most professional} funding establishments view BTC extra as a macro asset (that’s, ‘digital gold’) impartial of the crypto market, and make asset allocations and transactions based mostly on this characteristic.

For altcoins, because of the excessive liquidity threat, worth volatility threat and market manipulation threat, most establishments will keep away from holding altcoin publicity, aside from market makers.

Panels round AI and blockchain sparked robust reactions. Beyond buzzwords, the place do you see a tangible overlap between your online business and AI integration immediately, if any?

Vivien: For us, AI isn’t a aspect venture; it’s a core strategic pillar. We’re already seeing how AI enhances decision-making at each step—from instruments like Smart Position Analysis, which recommends real-time publicity changes, to AI Trade Review, which helps customers be taught and evolve from their buying and selling historical past.

That’s the true overlap. AI is a worth driver, not only a buzzword.

Eowyn: Right now, we’re nonetheless early. AI is displaying essentially the most instant promise in infrastructure, compliance, automation, and inner operations. But wanting ahead, we’re exploring how AI might improve the consumer expertise in sensible methods: higher rip-off detection, contextual warnings, or tailor-made interfaces.

These are nonetheless exploratory, however we see long-term potential. It’s necessary to remain grounded. AI should align with our mission of giving customers autonomy, not including layers of hidden management.

Tokenization of real-world property obtained main stage time. Are RWAs a near-term alternative in your crew, or is the infrastructure nonetheless too fragmented to justify full dedication?

Michael Jerlis (Founder & CEO of EMCD): Tokenization of real-world property (RWAs) was one of the crucial talked-about areas, and it’s clearly shifting from idea to actuality. We’re seeing extra clear, dependable options emerge, and the foundational infrastructure is maturing quicker than anticipated.

At EMCD, we’ve already launched our personal RWA initiative, enabling customers to entry tokenized income-generating property in a safe and compliant means. One key benefit is the low entry threshold—beginning from simply $5,000—making this chance accessible to a wider vary of traders.

While challenges round custody and regulation nonetheless exist, the momentum is actual, and we consider RWAs will likely be a key driver of adoption within the subsequent wave of crypto evolution.

The memecoin debate re-emerged in Dubai. From your seat, do memecoins nonetheless play a related function in onboarding, liquidity, or tradition, or are they shedding steam?

Eowyn: Memecoins nonetheless play a job—however the tone is shifting. They’ve been helpful for cultural engagement and onboarding, particularly for customers who discovered crypto by means of memes, not manuals. But now we’re seeing the speculative aspect dominate, whereas real consumer adoption seems to be really fizzling out.

It’s not about dismissing memes however recognizing when their cultural worth is being changed by pure volatility. Infrastructure wants to assist customers transfer from hype to one thing extra lasting. That’s the place wallets are available.

You’ve most likely sat in or led personal conversations throughout aspect occasions. What themes or ache factors got here up off-stage that deserve extra business consideration?

Michael: Off-stage, essentially the most trustworthy conversations weren’t about tech however consumer fatigue. There’s a rising sense that an excessive amount of of crypto nonetheless looks like work. Simplifying UX, lowering custody friction, and constructing merchandise that ‘just work’—these themes got here up repeatedly.”

Vivien: One recurring theme was the overwhelming complexity of navigating crypto instruments, particularly for newcomers. Despite years of innovation, there’s nonetheless a steep studying curve with regards to understanding merchandise, managing threat, and even figuring out reliable platforms.

The subsequent wave of progress received’t come from extra options—it’ll come from simplifying the expertise and making intelligence accessible at each step.

Dubai’s positioning as a crypto hub feels extra cemented than ever. Did this yr’s TOKEN2049 shift how your crew views MENA as a market, regulatory base, or growth precedence?

Tracy Jin (COO of MEXC): Dubai’s emergence as a world crypto hub has been outstanding, and this yr’s TOKEN2049 bolstered our confidence within the MENA area’s strategic significance. We intentionally selected TOKEN2049 Dubai to announce our $300 million Ecosystem Development Fund as a result of we see MENA as essential to our international growth technique.

The area affords a novel mixture of tech-savvy customers and institutional capital that’s more and more flowing into digital property. While we’ve maintained operations in numerous international jurisdictions, Dubai gives the type of certainty and potential for long-term planning and funding. 

Following TOKEN2049, we’re accelerating our MENA technique with deeper native partnerships and tailor-made merchandise for regional customers.

In a fast-moving market, post-event euphoria typically fades rapidly. How do you resolve which insights from TOKEN2049 are value turning into motion, and that are higher left on the panel stage?

Michael: Post-event, our filter is easy: if it doesn’t clear up an actual consumer ache level immediately, it’s noise. We left Dubai energized however disciplined, doubling down on insights that align with precise product wants, not simply panel buzz.

After every little thing mentioned—from AI to regulation to market construction—what’s one contrarian take or uncomfortable fact you suppose the business nonetheless must confront?

Stephan Lutz (CEO of BitMEX): Most of the business remains to be pushed by the narrative of constructing fast cash, attracting traders, or issuing tokens to convey ahead discounted future revenues (earlier than they’re even constructed).

The onerous work of constructing an actual decentralized autonomous organisation (DAO) that isn’t nearly voting on what coin to put money into, is but to be seen. I envision working networks that permit for actual coordination together with micropayments for both AI brokers or drones.

Another facet can be elevated development on the tokenization of personal property, not simply the distribution of present de-materialised and tradable monetary property to crypto natives.

Dr. Han (Founder & CEO of Gate Group): To be trustworthy, establishments received’t bend to crypto norms. If we wish to onboard critical establishments or capitals, we have to converse their language—authorized readability, safety, compliance, and regulatory frameworks. These should not solely the muse for overcoming challenges, but in addition the driving drive for innovation. ‘Advancing innovation through global compliance’—this mindset is on the core of Gate’s long-term management.

Eowyn: As an business, we’re nonetheless constructing an excessive amount of for insiders. Most customers, particularly these new to what Web3 and crypto supply, don’t care about tokenomics, consensus fashions, or governance mechanisms. They care about security, ease of use, and belief.

Until we design merchandise that meet these wants with out jargon, we’ll hold biking by means of the identical bubbles. Decentralization means nothing if it’s not accessible. That’s a key uncomfortable fact the business has to internalize.”

Let’s flip the lens: What’s one underrated venture, development, or sign you picked up throughout TOKEN2049 that you simply suppose extra folks needs to be listening to?

Jeff Ko (Chief Analyst at CoinEx Research): We’ve noticed the rise of a distinct segment but quickly maturing sector — the Bittensor ($TAO) ecosystem. 

Bittensor represents a brand new frontier in blockchain innovation by means of its subnet structure, enabling the creation of specialised, application-driven networks. Unlike typical general-purpose chains, these subnets are tailor-made for extremely particular and high-value use circumstances.

Projects in its ecosystem are tackling decentralized AI inference and mannequin internet hosting, local weather modeling, drug discovery, and censorship-resistant storage.

These purposes spotlight a shift from summary experimentation to real-world problem-solving, signaling a brand new part of blockchain maturity. What additional distinguishes Bittensor is its fast-growing developer ecosystem, which is attracting expertise from each crypto-native and conventional sectors.

Markus Levin (Co-Founder of XYO): DeSci, DeFAI, RWAs, and DePIN all got here up repeatedly, and but they’re nonetheless underrated. These aren’t area of interest experiments anymore. There’s actual constructing taking place, actual capital shifting in, and real-world relevance behind them.

They don’t get the identical consideration as L2s or memecoins, however they’re the place the following wave of infrastructure and utility is being constructed.