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Trump and Bitcoin Fuel Abu Dhabi’s High-Stakes Summit as Crypto Power Players Converge

Mon, 09 Dec 2024, 03:15 am UTC

Trump’s crypto circle gathers in Abu Dhabi as Bitcoin shatters all-time records, supercharging industry-wide momentum and investor intrigue.

Crypto leaders gather under opulent lights as Abu Dhabi hosts Trump-backed Bitcoin summit. Credit: Gage Skidmore/Flickr(CC BY-SA 4.0)

As bitcoin surges beyond $100,000 and Donald Trump champions America’s crypto ascendancy, the Bitcoin MENA conference in Abu Dhabi draws a star-studded roster of industry insiders. Eric Trump, billionaire Steve Witkoff, and Binance’s CZ headline an event poised to reshape global digital currency influence.

Bitcoin MENA: A Star-Studded Conference in the Gulf

On Monday, as Bitcoin reaches new heights, several important figures in the new cryptocurrency endeavor of President-elect Donald Trump will assemble in Abu Dhabi for the biggest conference of its kind in the Gulf area, Reuters reports.

Eric Trump, son of the president-elect, and Steve Witkoff, millionaire and co-founder of World Liberty Financial, a cryptocurrency platform that Donald Trump and his family helped establish in September, will be speaking. Witkoff also serves as the new U.S. envoy for the Middle East.

According to the itinerary for Tuesday's Bitcoin MENA conference, which is expected to attract over 6,000 attendees, Eric Trump will give the keynote speech. Following that, in the VIP lounge, he will have a "whale-only" conversation.

Elite Access: The $9,999 Whale Pass

The $9,999 "whale" pass grants Witkoff access to an elite audience, and he will address them separately. A "whale" pass is a moniker for powerful market participants.

As stated on the WLF website, the primary crypto evangelist for World Liberty Financial is the president-elect, while Eric, Don Jr., and Barron are ambassadors. Donald Trump is deserving of 22.5 billion WLF tokens and a portion of the company's profits, according to its records.

"The Bitcoin conference carries a lot of significance for crypto as it's one of the longest-running conferences focused on bringing our industry together," stated Marshall Beard, COO of Gemini, the crypto exchange established by Trump backers Cameron and Tyler Winklevoss.

Justin Sun’s $30 Million Bet on WLF

Justin Sun, the 32-year-old Chinese creator of the blockchain platform Tron, is only one of several speakers with connections to World Liberty Financial.

Sun became the biggest investor in the business three weeks after Trump's victory on November 5th, when he announced on X that he had purchased $30 million worth of WLF tokens. During Biden's presidency, Sun faced charges of securities breaches and crypto-related fraud.

Trump, who was initially skeptical of cryptocurrencies, has promised to become the "crypto president" and transform the United States into the "crypto capital of the planet." This comes at a pivotal moment for the industry, just as the Gulf gathering is taking place.

With these assurances in mind, Bitcoin broke all previous records last week when it reached $100,000.

Musk’s Role in Trump’s Crypto Rise

Trump also appointed David Sacks, a former PayPal executive and a close friend of Trump adviser and megadonor Elon Musk, as White House czar for artificial intelligence and cryptocurrencies, Yahoo Finance shares.

According to reports, Musk spent almost 25% of his net worth on the 2024 election of Donald Trump. Musk is the CEO of X, SpaceX, and Tesla. Analytics company Breadcrumbs found that other seasoned tech and digital asset professionals also donated millions to candidates who were friendly to the business.

Manafort and Zhao Headline Whale Sessions

The conference will be addressed by Paul Manafort, who managed Trump's 2016 campaign, and will talk about "A Life of Politics with the Man Closest to Donald Trump."

Founder of Binance Changpeng Zhao, who was just released from a four-month prison term in the United States for violating of crypto-related money-laundering laws, will also be speaking at the conference during a whale session.

Requests for response were not responded to by Trump, his family members, other speakers, or their firms.

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Great article. Requesting a follow-up. Excellent analysis.

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Great article. Requesting a follow-up. Excellent analysis.
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