What did Abdulmohsen Al-Abdulaziz Al-Dossary and He Yi say at the closed-door meeting at Binance during a rainstorm, giving insights into 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 attacks between Iran and Israel. Fortunately, our trip was not delayed, and we safely arrived in Dubai to attend the VIP conference hosted by Binance in Abu Dhabi.
Further reading:
Bitcoin’s Fourth Halving is Coming! Analysis: What is Halving? How does it affect me? Will the price of Bitcoin rise? Will miners disappear?
However, unexpectedly, it was not missiles that disrupted our plans, but a massive storm in the desert. It was the biggest storm in the UAE’s recorded history, with winds blowing the hotel’s floor-to-ceiling windows right before our eyes. The torrential rain poured for 12 hours, equivalent to a year’s worth of rainfall, making Dubai Airport impassable, resembling a sea. Many flights circled for a long time before being diverted to Abu Dhabi or Amman for emergency landings.
The roads were completely flooded, with water reaching the car roofs, causing many vehicles to break down and block the traffic. The hotels were also flooded and left without water or electricity, making it impossible to enter or leave. Many planned activities had to be canceled as speakers and guests couldn’t make it. Some friends who were heading to Dubai had to walk for hours in the flooded streets, carrying their luggage. After walking for ten hours, some were moved to tears when they received packets of potato chips distributed by kind-hearted individuals on the roadside. The paralyzed city felt like a hell on earth, and people swore never to return.


The UAE experienced its biggest storm in 75 years in April, with rainfall equivalent to a year’s worth pouring down in just 12 hours, rendering Dubai Airport unable to operate.
Binance’s closed-door conference: What did Richard Teng say?
Fortunately, unlike our friends who were stuck in Dubai, we were extremely lucky. At the time of the incident, we were staying in a hotel in Abu Dhabi, conducting a closed-door conference. The event brought together the world’s top trading teams and many important VIPs, including representatives from Abu Dhabi and our gracious host, the founder of Binance, Changpeng Zhao. Over the course of three days, we had intense discussions that sparked many brilliant ideas, making the conference truly remarkable.
The conference kicked off 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 on the approval and continuous promotion of cryptocurrency ETFs, making cryptocurrencies an integral part of the future world economy. Binance also presented concrete plans and solutions. As the world’s largest cryptocurrency exchange, they have ambitious goals of becoming a leading force in the global economy of the future. And our purpose in being there was to collaborate and help them achieve it.
Many official entities from Abu Dhabi participated in the conference, demonstrating their enthusiastic attitude. Their high standards, global perspective, and openness were admirable. We were also invited to attend a VIP networking event they organized at a hotel next to the Dubai Marina Yacht Club in two days’ time.
From food to attire, glimpses of Abu Dhabi’s ambitions
When people mention the UAE, most are familiar with Dubai but may not know much about Abu Dhabi. However, Abu Dhabi is actually the big brother. It is bigger and wealthier than Dubai, but it remains low-key. This was evident in the themed French molecular cuisine dinner arranged by the organizers, where each of the seven courses was named after one of the UAE’s seven cities.
The first appetizer was named Dubai, a thin pancake with cream, topped with a large sheet of gold leaf. It was the first time in my life that I had the opportunity to taste gold leaf so carefully… And Abu Dhabi, the second-to-last main course, was a simple yet delicious roasted lamb shank with truffle potatoes, representing its unpretentiousness.


In fact, you can easily distinguish these two cities by their dress code and ambiance. Abu Dhabi is a traditional financial hub, with people dressed in traditional robes and headscarves or suits. On the other hand, Dubai represents Web3 projects, with people wearing T-shirts. Abu Dhabi’s determination to become the future world’s financial center is evident in every aspect.


Interacting closely with Changpeng Zhao and the presence of Ray Dalio
The highlight of the conference’s agenda was undoubtedly Changpeng Zhao, the founder of Binance, also known as the “Sister of the Crypto Circle.” Interacting closely with her left me amazed and moved. Contrary to the image of a typical entrepreneur or powerful woman, she is actually an educator and a mother. When the topic of education for children came up, her eyes lit up, and she enthusiastically shared her ideas for about ten minutes. She spoke about the future, saying that when we come into this world, we should leave something behind. Binance is her child, and what I saw in her was a giant who contemplates how to create the future.
Moreover, outside the conference agenda, a special guest was arranged at 12:30 noon, the founder of Bridgewater Associates, Ray Dalio, author of the book “Principles.” His presence immediately put everyone in fan mode… He was like a philosopher, discussing the essence of money, from the history of human currency to gold, the dollar, and today’s cryptocurrencies. What is the nature of money? How do we measure value? It’s a pity that I couldn’t take photos or record videos; otherwise, I would have loved to share it with everyone.


Interestingly, he mentioned that he has never bought any cryptocurrencies to this day and questioned why we should buy them. This sparked more ideas and discussions. The experience was truly incredible!
Although we also encountered flooded hotels in Dubai, forcing us to switch accommodations, and faced paralyzed transportation and drivers demanding exorbitant fares, we had already connected with key figures. Moreover, in this exclusive meeting, we were the only Taiwanese attendees, accompanied by just one person from Hong Kong. There were no Japanese or Korean participants. Eighty percent of the attendees were from Europe and the Americas. Before boarding the plane, I stood on the outdoor terrace of the world’s tallest building, the Burj Khalifa, on the 152nd floor, watching the sunset over the Persian Gulf. I felt both lucky and a sense of great responsibility.
Richard Teng once said that Taiwan has top-notch technical talent and an open mindset. This wave of global financial transformation brought about by cryptocurrencies and blockchain is actually a great opportunity for Taiwan. This is what we have always believed, and I 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 OKEx and Binance VIP Dinners! Understanding the Secrets of Successful Top Exchanges
Opinion articles present diverse views and do not represent the stance of “WEB3+”.
Proofreading and editing by: Gao Jingyuan