Trump Jr. and Industry Leaders Tout Stablecoin Future at Singapore Crypto Event

From bold forecasts about a multi-trillion-dollar stablecoin market to enthusiastic praise for U.S. President Donald Trump’s support of digital assets, a major crypto gathering in Singapore this week reflected the upbeat sentiment currently running through the industry.
Roughly 25,000 participants attended the two-day TOKEN2049 event, which wrapped up on Thursday. Attendees collected free merchandise from blockchain firms and listened to speakers such as Donald Trump Jr. and China-born tech entrepreneur Justin Sun.
The annual Singapore installment of TOKEN2049 came amid a surge in crypto activity across Asia. According to blockchain data firm Chainalysis, the region’s total crypto transaction volume rose to $2.36 trillion by June, up from $1.4 trillion the previous year.
The conference also aligned with Singapore’s broader ambition to position itself as a global center for cryptocurrency innovation. However, a string of high-profile industry failures in recent years has prompted local authorities to increase regulatory oversight.
The event’s high-energy atmosphere extended beyond the panels and presentations. Some attendees rode a zipline in exchange for a free backpack, got airbrushed tattoos, stepped into a cryotherapy chamber, or played pickleball while DJs played across multiple levels of the venue.
“When I came in this morning and I heard the music, I had chills,” said Hubert Tang, a 60-year-old working in operations for an investment academy in Singapore.

“How can this not be the new era?”

The conference was held at a five-storey convention centre within the Marina Bay Sands resort and featured over 120 related events, including private dinners, parties, and even a boxing match where crypto insiders went head-to-head in the ring.
On Thursday, nine yacht parties and local nightclub Zouk were booked exclusively for 500 attendees. The club accepted various cryptocurrencies including bitcoin, ethereum, USDC, Tether, and Binance Pay.

“Secretary Scott Bessent with the (U.S.) Treasury predicted that the stablecoin global market cap would be above $1 trillion in the next couple of years,”

said former White House crypto policy executive Bo Hines, now CEO of Tether’s newly launched U.S.-based stablecoin venture.

“… it’s a very conservative estimate. I think it can be much greater than that.”

Unlike the mixed reception at TOKEN2049’s Dubai edition earlier this year, participants at the Singapore event were generally optimistic about Trump’s impact on the crypto space.
Once skeptical of cryptocurrencies, Trump has since launched his own digital token and introduced legislation aimed at establishing a framework for stablecoins—cryptocurrencies pegged to the U.S. 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,”

said Zach Witkoff, son of Trump’s special envoy to the Middle East, Steve Witkoff. He was speaking alongside Donald Trump Jr. on Wednesday.
Both speakers reaffirmed their confidence in the future of digital currencies and reflected on the advancements made during Trump’s term. Their remarks were frequently met with applause from the audience.

“I think stablecoins are going to be the thing that backfills all of these countries that used to buy U.S. Treasuries,” Trump Jr said.
“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, who works in the food and agriculture sector, flew in from Hong Kong to attend the event—her third time participating in the Singapore edition.
“Booming,” said the 62-year-old, who began investing in crypto last year, when asked to sum up the industry in a single word. “It’s an irreversible journey.”