S'pore crypto sector continues to mature amid regulatory scrutiny

Some players are pushing back against speculative 'crypto bro' culture and label

- Timothy Goh

Attendees at Token2049, Singapore's largest crypto conference, at the Marina Bay Sands Expo and Convention Centre on Oct 1. The party-like atmosphere at the conference belied the fact that crypto is still a young industry under growing regulatory scrutiny in Singapore. ST PHOTO: KUA CHEE SIONG

(ST PHOTO: KUA CHEE SIONG)

A massage room, a pickleball court, a cold plunge pool and a tattoo parlour.

These were some of the attractions at a recent cryptocurrency conference in Singapore, attended by the likes of Formula One veteran Fernando Alonso, former Chelsea and England captain John Terry, and a mascot in an astronaut suit.

They were among 25,000 other crypto bros - and a few girls - who flew in from around the world to attend 2025's Token2049, Singapore's largest crypto conference, which was held across five floors of the Marina Bay Sands Expo and Convention Centre on Oct 1 and 2.

"Crypto bro" usually a young, male crypto enthusiast is an industry term used to describe those who loudly champion crypto as the future of money. These individuals are often associated with high-risk trading and flashy wealth.

As participants traded views on topics such as stablecoins, institutional adoption and tokenisation, the conference took on a celebratory vibe, or in crypto parlance, "degen", reflecting the unabashed optimism and high-risk enthusiasm that have propelled blockchain and cryptocurrency from niche ideas to global prominence.

The fanfare comes amid a rebound in crypto prices, with Bitcoin skyrocketing more than 90 per cent over the past year, lifted by the launch of Bitcoin exchange traded funds, growing institutional interest and pro-crypto policies in the US.

The world's largest cryptocurrency by market value is now trading at record highs above US$125,600 (S$162,000).