Crypto’s Comeback on Full Display at Rain-Soaked Dubai Gathering
- Luxury and excess echoed previous bull market events
- Some attendees were troubled by the heightened celebrations
Abandoned vehicles on a flooded highway after a rainstorm in Dubai, on April 17.
Photographer: Christopher Pike/BloombergIt was a rough start for the Dubai edition of the Token2049 crypto conference as massive flooding from heavy rainfall earlier this week caused attendees’ flights to be delayed, diverted or outright canceled. Many arrivals endured hours-long bus rides from the airport, missing luggage and hotels with power outages.
But once the event began Thursday, any sign of trouble evaporated. Instead, a party-like atmosphere overtook the beach resort where the event took place as attendees celebrated rising crypto prices and declared a new bull market for the industry. Luca Netz, chief executive officer of nonfungible token company Pudgy Penguins said it was no surprise that the crypto community rallied.