UAE on Track to Become Crypto Hub: Trade Minister

• UAE Trade Minister Thani Al-Zeyoudi stated that crypto will play a major role in UAE trade going forward.
• The UAE is working to become a crypto-hub by attracting large companies with crypto-friendly regulations.
• UAE Minister of State for artificial intelligence and the digital economy Omar Sultan Al Olama spoke on the crypto-focused panel at the 2023 World Economic Forum.

The United Arab Emirates (UAE) is poised to embrace the growing trend of cryptocurrency and blockchain technology in the coming years. At the 2023 World Economic Forum held at Davos Switzerland, UAE Trade Minister Thani Al-Zeyoudi commented on the potential role of cryptocurrencies in the country’s foreign trade.

Al-Zeyoudi noted that cryptocurrencies will play an important role in the economic development of the UAE, stating that the country is focusing on building the necessary governance and legal system to support the technology. He explained that the UAE, particularly Dubai, is working to attract large companies to the country with crypto-friendly regulations. This comes as more countries around the world adopt cryptocurrency and blockchain technology to facilitate their financial systems.

The UAE is also home to the world’s first government-backed cryptocurrency, the emCash. This digital currency is designed to provide citizens with an easy, secure and cost-effective alternative to traditional financial services.

Additionally, the UAE Minister of State for artificial intelligence and the digital economy, Omar Sultan Al Olama, was part of the crypto-focused panel at the 2023 World Economic Forum. He discussed the significance of the UAE’s crypto industry, noting that the country is well-positioned to become a hub for cryptocurrencies and blockchain technology.

The UAE’s embrace of cryptocurrency is part of its broader strategy to become a leader in innovation and technology. The country has already implemented a number of initiatives such as the Dubai 10X project, which is designed to make Dubai the world’s most innovative city.

It is clear that the UAE is committed to becoming a major player in the cryptocurrency and blockchain space. This is evidenced by the country’s commitment to building the necessary legal and regulatory frameworks to support the technology. With its progressive policies and innovative initiatives, the UAE is set to become a major hub for cryptocurrency and blockchain technology in the near future.

Ex-FTX US President Accuses Sam Bankman-Fried of Abuse

• Brett Harrison, the former president of FTX US, accused Sam Bankman-Fried of „gaslighting and manipulation“ while working at FTX US.
• Harrison served as the head of FTX US for a total of 17 months and threatened to quit the organization in April of last year due to what he saw as organizational flaws with FTX’s structure.
• Bankman-Fried’s crypto empire started to fall apart just weeks before Harrison left his position as head of FTX’s U.S. branch in September.

On Saturday, Brett Harrison, the former president of FTX US, made a series of tweets on Twitter in which he provided information about his time working for Sam Bankman-Fried, the disgraced crypto tycoon who has been accused of a number of financial offenses. In these tweets, Harrison accused Bankman-Fried of “gaslighting and manipulation” and revealed that he was marginalized as a leader while attempting to expand the footprint of the now-defunct cryptocurrency exchange in the United States.

Harrison served as the head of FTX US for a total of 17 months and had been attempting to expand the exchange’s operations in the US since he was appointed in December 2020. However, he claims that his relationship with Bankman-Fried had started to deteriorate months prior to his departure. After months of disagreements over FTX’s management procedures, Harrison said that “my relationship with Sam Bankman-Fried and his subordinates had reached a point of absolute degradation.”

In early April 2022, Harrison made a written formal complaint about the organization’s structure, stating that he saw “the largest organizational problems” with the company. However, his complaint fell on deaf ears and he felt that he was being “marginalized as a leader” in the organization. This further strained his relationship with Bankman-Fried and eventually led to his resignation in September 2022, just weeks before Bankman-Fried’s crypto empire started to unravel.

Since leaving FTX US, Harrison has become increasingly vocal about his experiences at the company and has taken to social media to share his story. He has accused Bankman-Fried of using “gaslighting and manipulation” to control the organization and its employees, and has called for a more transparent and ethical corporate culture in the crypto space.

Harrison’s story serves as a cautionary tale for those considering working in the crypto space. It is a reminder that it is important to do your research and be aware of potential red flags before signing up to work with any company. It is also a lesson in the importance of speaking up and making your voice heard, even if it means going against the grain.

Bitcoin Price Prediction: BTC/USD Set to Revisit $21K Level

• Bitcoin price prediction for today is that the BTC/USD is likely to revisit the $21,000 level.
• Bitcoin (BTC) is currently consolidating and may break to the upside above the resistance level of $21,000.
• Support levels lie at $19,000, $17,000, and $15,000.

The Bitcoin price prediction for today is that the BTC/USD is likely to revisit the $21,000 level. Bitcoin (BTC) is currently consolidating and may break to the upside above the resistance level of $21,000. The king coin is seen hovering at $20,869, with the current consolidation pattern, the coin is staying above the 9-day and 21-day moving averages.

The technical indicator Relative Strength Index (14) is currently moving within the overbought region. This indicates that in the next move, BTC could break above the channel as the candle is still yet to close. If Bitcoin (BTC) does break to the upside, the nearest resistance level of $21,000 may be reached.

Meanwhile, if any cross below the moving averages happens, the first level of support may be located at $19,500. Other supports lie at $19,000, $17,000 and $15,000. As of now, the coin is fluctuating around the upper boundary of the channel.

In the past few days, Bitcoin price has seen a few minor corrections and retracements. However, the coin has been able to recover from the bearish pressure and currently trades above the $20,000 level.

Analysts suggest that if the coin manages to break the $21,000 level, then the sky is the limit for Bitcoin (BTC). As of now, the coin is in a consolidation phase and is preparing for the next move. Traders must be extra cautious and must stick to their risk management strategies while trading.