Dubai’s Crypto Party Scene Surges with Billion-Dollar Deals, Eric Trump, and Meme Coins

preCharge News CRYPTO — On a warm Dubai evening, May 1, global crypto elites boarded the 220-foot Lotus megayacht to cap off TOKEN2049, the region’s premier digital asset conference. Hosted by DogeOS, developers of Dogecoin’s blockchain, the party was more than entertainment—it was a living metaphor for the unstoppable rise of crypto in the Gulf.

Guests ranged from founders to influencers to startup hopefuls. Some attendees promoted astrology-based business strategies; others hawked meme tokens like $WIT Coin—a Shiba Inu in a cowboy hat—between shots of tequila. The energy was loud, self-assured, and borderless.

“You’ve probably heard of me. Elon retweets me a lot,” said one guest, repeating the line to multiple people.

Bartenders serve guests aboard the 220-foot long Lotus megayacht in the Dubai Marina, May 1, 2025. Source: CNBC

Trump’s Crypto Train Arrives in the Gulf

That same day, Eric Trump, executive VP of the Trump Organization, took the stage at TOKEN2049. There, he announced that World Liberty Financial, the family’s blockchain platform, would provide stablecoins for a $2 billion investment by Abu Dhabi’s state-backed firm MGX into Binance.

“Low taxes, smart people, and a broken U.S. financial system make the UAE the obvious destination for crypto,” Trump said during the conference.

Zack Witkoff, co-founder of World Liberty and son of a former Trump envoy, added: “We thank MGX and Binance for their trust. It’s only the beginning.”

Trump Organization executive vice-president Eric Trump (R), World Liberty Financial co-founder Zach Witkoff (C) and cryptomoney exchange Tron Justin Sun (L) participate in a session during the Token 2049 crypto conference in Dubai, on 1 May 2025 (Giuseppe Cacace/AFP)

A Friendly Regulatory Frontier Amid Global Uncertainty

For Jordan Jefferson, CEO of DogeOS, Dubai represented something rare: regulatory clarity. He relocated from Canada in 2022 and has since helped shape the crypto narrative in the Emirates. On the yacht, he and his team wore shirts emblazoned with a Shiba Inu in a kandura, calling it “Habibi Doge.”

Part of the Dubai skyline as seen from the DogeOS yacht party on May 1, 2025, in the United Arab Emirates. Source: CNBC

The UAE’s regulatory moves have been groundbreaking. In 2022, Dubai launched VARA, the first independent crypto regulator. A year later, Abu Dhabi Global Market rolled out updated frameworks for digital assets, making the region more attractive for exchanges and custodians.

Major firms like OKX, Binance, Crypto.com, and Bybit now call the UAE home. With crypto-friendly visas and tax incentives, the country is redefining how digital finance integrates into national policy.

Learning from Scandals, But Keeping the Party Going

Despite the optimism, scandals still shadow crypto’s progress. FTX, which declared bankruptcy in 2022, was once licensed by VARA. Its founder Sam Bankman-Fried and Binance’s Changpeng Zhao both served jail time. Zhao, now a Dubai resident and UAE citizen, has returned to the city after a four-month sentence.

Dubai-based exchange Bybit faced the world’s largest crypto heist earlier this year—$1.5 billion in stolen tokens.

Walkway of the Dubai Marina, May 1, 2025. Source: CNBC

“It’s not easy to build a framework others respect,” said Jefferson. “But Dubai’s doing it.”

Compared to the U.S. or EU, where regulation often feels punitive, many say Dubai strikes a better balance.

“People feel safer here,” said William Athanas, a Miami-based founder launching a prediction market on DogeOS. “The U.S. is over-regulated. Dubai is where builders feel welcome.”

As Bitcoin Climbs, Dubai Dances

On the night of the yacht party, Bitcoin hovered around $94,808. At publication, it has soared to $110,538.

CoinDesk Bitcoin Price Index (XBX) | 1 Day charts.
BTCUSD (preCharge Swap Indices)

For many, Dubai’s optimism feels justified.

“I thought people had stopped taking risks,” said Danni Liu, a Sweden-based founder of LIFE Protocol. “Then I came to Dubai and saw people still dancing. The show is going on.”