What did Deng Weizheng and He Yi say during the closed-door meeting at Binance during a thunderstorm, shedding light on Abu Dhabi’s ambitions?

Token 2049 in the Storm
As the Bitcoin halving approached, we nervously prepared to travel to the United Arab Emirates. Flights were being canceled due to the escalating conflict between Iran and Israel, but fortunately, our journey was not delayed. We arrived in Dubai and drove to Abu Dhabi for the VIP conference hosted by Binance.
️ Further reading:
Bitcoin Halving is Coming! A Comprehensive Analysis: What is Halving? How Does it Affect Me? Will the Price Rise? Will Miners Disappear?
However, what caused chaos during our trip was not missiles, but a massive storm in the desert. It was the biggest storm in the history of the UAE in the past 75 years. The strong winds shattered the hotel’s glass windows in front of our eyes, and the torrential rain poured down, equivalent to a year’s worth of rainfall in just 12 hours. The Dubai airport became impassable, similar to the sea. Many flights circled for a long time before finally diverting to Abu Dhabi or Amman.
The roads were completely flooded, causing many cars to break down and leading to a complete standstill. The hotels were flooded, with no water, electricity, or food. Many events had to be canceled because speakers and guests couldn’t make it. Friends who were heading to Dubai had to walk for hours through the flooded streets, carrying their luggage. Some walked for ten hours and were moved to tears when they received a bag of chips from a kind stranger on the roadside. The paralyzed city felt like a living hell, and people swore never to come back.


The UAE experienced its largest storm in 75 years in April, with a year’s worth of rainfall pouring down in just 12 hours, rendering the Dubai airport impassable.
Binance closed-door conference, Richard Teng’s insights
Fortunately, compared to our friends who were stuck in Dubai, we were extremely lucky. At the time of the incident, we were all staying in a hotel in Abu Dhabi for the closed-door conference. Top trading teams from around the world and many important VIPs gathered together, including the representatives of Abu Dhabi and our host, the founder of Binance, Ms. Helen Hai. Over the course of three days, we had intense discussions that sparked many ideas, making the conference truly remarkable.
The conference began with a speech by Richard Teng, the current CEO of Binance and former CEO of Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority. He shared deep insights into the approval and continuous promotion of cryptocurrency ETFs, and how cryptocurrencies will become part of the future world economy in a legal and compliant manner. Binance also presented concrete plans and solutions. As the world’s largest cryptocurrency exchange, they have the ambition to become the leader of the future world economy. Our purpose in being invited was naturally to collaborate and help achieve these goals.
Many official entities from Abu Dhabi participated in the conference with a highly positive and open attitude. Their enthusiasm, vision, and openness were commendable. We were invited to a VIP networking event they organized two days later, near the Dubai Marina Hotel.
From food to attire, observing Abu Dhabi’s ambitions
When people talk about the UAE, they often think of Dubai, but Abu Dhabi is actually the big brother. It is bigger and wealthier than Dubai, but it remains low-key. Just like the themed French molecular cuisine dinner organized by the conference host, the first appetizer was named Dubai. It was a thin pancake with cream, but it was topped with a large piece of gold foil. It was the first time in my life that I tasted gold foil… Abu Dhabi was the second-to-last main course, a simple and delicious roasted lamb knee with truffle potatoes.


In fact, you can easily distinguish these two cities from their attire and background. Abu Dhabi is a traditional financial hub, and people dress in traditional robes and headscarves or suits. On the other hand, Dubai is the home of Web3 projects, and people wear T-shirts. Abu Dhabi’s determination to become the future world financial center is evident in everything.


Interacting closely with Helen Hai, and a surprise guest from Bridgewater Associates
The highlight of the conference was the close interaction with the founder of Binance, Helen Hai, whom many refer to as the “Sister of the Cryptocurrency World.” I was amazed and moved by her presence. She is not the typical entrepreneur or powerful businesswoman as imagined by the public. On the contrary, she plays the role of an educator and a mother. When talking about her children’s education, her eyes immediately lit up, and she enthusiastically shared her ideas for about ten minutes. When discussing the future, she said, “We come into this world for a reason, and we should leave something behind.” Binance is her child, and through her, I saw the determination to create a giant that will shape the future.
Moreover, outside of the conference agenda, a surprise guest was arranged for us at 12:30 noon. It was Ray Dalio, the founder of Bridgewater Associates and author of the book “Principles.” His presence instantly put everyone in fan mode. He was like a philosopher, discussing the nature of money, from the history of currency to gold, the US dollar, and today’s cryptocurrencies. What is the essence of money? How do we measure its value? Unfortunately, photography and recording were not allowed, otherwise, I would have loved to share it with everyone.


Interestingly, he mentioned that he has never bought any cryptocurrencies to this day and asked us why we should buy them. This sparked even more ideas and discussions. It was truly a delightful experience.
Although we also encountered hotel flooding and transportation disruptions, including drivers raising prices and engaging in extortion, when we arrived in Dubai, we had already established connections with key individuals, so we didn’t have to search for a needle in the ocean. Moreover, in this private conference, we were the only Taiwanese and there was only one person from Hong Kong. There were no Japanese or Koreans, and 80% of the attendees were from Europe and America. Before boarding the plane, I stood on the outdoor terrace of the 152nd floor of the world’s tallest building, the Burj Khalifa, watching the sunset over the Persian Gulf. I felt both lucky and deeply aware of the responsibility ahead.
Richard Teng once said that Taiwan has top-notch technical talents and an open mindset, making it a great opportunity in the global financial revolution of cryptocurrencies and blockchain. This is something we have always believed in. I also want to prove that Taiwan is not just about TSMC and NVIDIA. As long as we grasp the direction of the trend, we can stand at the top of the world.
️ Further reading:
Unveiling the OKEx and Binance VIP Dinners! Understanding the Secrets of Successful Top Exchanges
The views presented in this article represent diverse opinions and do not reflect the position of “WEB3+.”
Proofread by: Gao Jingyuan