Incrypted Conference 2025: Insights from Ukraine’s Flagship Crypto Event

Incrypted Conference 2025 brought together over 1,000 participants, including Web3 developers, Bitcoin enthusiasts, traders, and representatives of DeFi startups. The Parkovy exhibition center in Kyiv offered an ideal setting, with open halls, clear navigation, terraces, coffee stations, hookahs, and a relaxed environment for conversation.

The event kept a balance between a casual atmosphere and focused discussion. Participants explored industry trends, airdrop strategies, project roadmaps, and business models while sharing insights and building partnerships.

The biggest headline from the event was the appearance of Peter Todd, one of the most prominent Bitcoin developers, creator of OpenTimestamps, and the person HBO once called “the real Satoshi Nakamoto.” The conference also hosted a charity auction that raised more than $15,000. 

The Coinomist team spoke with several project representatives and sat down for exclusive interviews with Peter Todd and Incrypted co-founder Andrii Makarov. Those features are coming soon!

For now, here are the most notable highlights from the conference.

Peter Todd on a Career in Cryptography and Bitcoin

One of the most anticipated sessions at Incrypted Conference 2025 featured Peter Todd, a leading engineer and cryptographer known for his early contributions to the Bitcoin community. His talk combined personal experience with an inspiring message about building a meaningful career in the world of decentralized technologies.

Peter began his talk by reflecting on his early steps in what he called “freedom technologies” back in the early 2000s, starting with his interest in Freenet (a network designed for anonymous data sharing). That period sparked his belief that both information and money should be accessible without intermediaries or permission. 

This philosophy eventually brought Peter to Bitcoin, which he discovered between 2009 and 2010. One of his first steps was to sit down with pen and paper and work through the source code. In his view, this kind of approach is especially valuable for early-stage developers.

He spoke about OpenTimestamps, his first experiment that later became a widely used tool. Peter also recalled his involvement in the block size debates and his disagreements with Gavin Andresen. While his position was not perfect, it was well-argued and clear, which earned him recognition.

Todd noted that his contribution to Bitcoin lies not so much in code (he has around 85 pull requests in Bitcoin Core) as in his articles, talks, and discussions that influence the ecosystem’s development. He emphasized that the path into Bitcoin development doesn’t have to be technically complex. What matters is the ability to think, analyze, and communicate ideas.

At the end of his talk, he answered questions, including one on DeFi in the Bitcoin ecosystem. He said that while the Bitcoin community views traditional DeFi with skepticism, new technologies such as the Bitcoin Virtual Machine (BMV) make it possible to build complex protocols on top of Bitcoin without approval from core developers. This, he said, holds significant potential for the future of the entire ecosystem.

Panel Discussion “Regulating Crypto in Ukraine: Latest Updates”

One of the most engaging discussions at the conference focused on crypto regulation in Ukraine. The panel was moderated by lawyer Peter Bilyk (Juscutum) and featured Yaroslav Zheleznyak (People’s Deputy of Ukraine, First Deputy Head of Ukraine’s Parliamentary Committee on Finance, Tax, and Customs Policy), Ruslan Magomedov (Chairman of the National Securities and Stock Market Commission), and Dmytro Nikolaievskyi (Lead Lawyer at The Project Office at the Ministry of Digital Transformation of Ukraine).

The discussion began with a brief overview of the history behind Ukraine’s draft law on virtual assets. Although the Verkhovna Rada passed the initial version in 2021, it has not come into force due to the lack of tax legislation and delays from regulators, primarily the National Bank. Between 2023 and 2025, several revised versions appeared, including draft law No. 10225-d, which was removed from the agenda in May 2025.

Zheleznyak suggested that the President’s Office may have been behind the decision to withdraw the bill and noted that a lack of communication between government agencies continues to block its adoption. Ruslan Magomedov denied the accusation of obstruction and pointed out that the Сommission prepared the first version of the regulation back in 2023. 

Dmytro Nikolaievskyi highlighted a conflict in regulatory approaches. While the Ministry of Digital Transformation supports a more liberal, gradual rollout of the rules, other institutions push for full implementation of the European MiCA framework from the beginning.

Related: Does MiCA Clash with Ukraine’s Crypto Sector?

The discussion also raised key questions: which agency should serve as the main regulator (the National Bank, the Securities and Stock Market Commission, or the Ministry of Digital Transformation)? What authorization rules will apply to crypto businesses? How will the law affect everyday users? 

Speakers paid particular attention to the issue of excessive regulatory power and the risk of a false start if the rules turn out to be too complex or costly to implement.

The discussion ended with an audience poll and brief forecasts. All participants agreed on one point: Ukraine needs a clear, functional, and balanced law. Only under these conditions can the country build a full-fledged virtual asset market and secure a strong position in the global crypto industry.

Denys 8 on Trading, Math, and Discipline

One of the standout talks at Incrypted Conference 2025 came from trader Denys 8. Although he does not present himself as a crypto expert, his experience with high-risk trading on the U.S. stock market was especially valuable for the audience.

Denys shared his story: in 2017, he was involved in crypto through the Cryptomannn project, but by 2019 he had shifted his focus to trading stocks and indexes. Over six years, he became one of the top day traders at his firm, and in 2025 he launched an independent career.

The central theme of his talk was the methodology behind building strategies. Denys believes that two core pillars define successful trading: backtesting and expected value. He explained how he calculates expected value using Excel instead of a traditional trading journal, which, in his view, includes too much emotion and too many subjective notes.

A simple but clear example is a coin toss game. In the short term, results may vary, but over time, probability always levels out. Denys sees this as the key to consistent trading.

He warned against the illusions that often arise during a bull market, especially in crypto. Fast profits are often just variance, a product of chance. Without a systematic approach, the market takes everything back.

Conference Atmosphere: Networking, Hookahs, and PS5

Incrypted Conference was not limited to speeches from the stage. The organizers set up a space where participants could talk, make new connections, discuss projects, and form partnerships. There were lounge areas, dedicated networking zones, coffee stations, and catering.

Projects took a creative approach to their booths. One Move-to-Earn startup offered $500 to the person who could do the most squats in 90 seconds. Other setups included a racing simulator, a pull-up contest, and a money-guessing game hosted by an exchange service.

Visitors didn’t just pass by; they stayed, got involved, and started conversations.

The gaming zone featured PS5 consoles, bean bags, table football, and air hockey. Outside, there were hookahs and cocktails. Some guests discussed the tokenomics of a new crypto project, while others took time to relax.

It was the kind of setting that resonates with the Web3 community. The event hit the mark, and the Incrypted team did a great job.