According to Bobby Ong, Token2049 featured a heavy presence of Mainland Chinese money, with many of the largest booths run by Chinese teams showcasing massive setups, bold branding, and serious budgets, indicating an intent to dominate, source: Bobby Ong, X, Oct 5, 2025. For traders, this on‑site evidence highlights intensifying competition and narrative momentum around China‑linked projects during a major industry event, source: analysis based on Bobby Ong, X, Oct 5, 2025.