Online Reporter
Once a crypto sceptic, US President Donald Trump has vowed to support the industry by easing regulatory curbs and has even launched his own cryptocurrency, in a turnaround for the industry after a series of crypto company collapses in 2022.
Cryptocurrency prices surged to a record high after his election win, but have fallen this year. Bitcoin is down about 12 percent from its peak as the global trade war and industry concerns that the pace of pro-crypto regulation under Trump is slower than expected, knocked sentiment.
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.
They shared mixed feelings about Trump’s impact on the industry.
“In the long term, it’s going to be good for crypto, but it really relies on the world economy picking up again,” said Miklos Veszpremi, the chief operating officer of a web3-integrated streaming platform.
“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.
Still, the industry enjoyed a strong start to the year as money poured in.
Global venture capital investments in crypto companies totalled $5.4 billion in the first quarter of 2025, its best quarter since mid-2022, according to data from PitchBook. — Reuters.
