Key figures from President-elect Donald Trump’s cryptocurrency initiatives joined prominent industry leaders at the Bitcoin MENA conference in Abu Dhabi, United Arab Emirates, on Monday. The event unfolded against the backdrop of Bitcoin’s unprecedented rise, crossing the $100,000 mark and buoyed by Trump’s pledge to be the “crypto president.”
Eric Trump, the President-elect’s son, headlined the two-day conference, which drew over 6,000 participants, including billionaire Steve Witkoff, the new White House envoy for the Middle East. Witkoff is also the co-founder of World Liberty Financial (WLF), a cryptocurrency platform launched in September with direct involvement from Donald Trump and his family.
Upon arrival, attendees were greeted by banners proclaiming the “golden age of Bitcoin” alongside a live ticker showcasing the record-breaking Bitcoin price. Among the participants was Nick Damico, co-founder of the crypto exchange Roxom, wearing a “Make Bitcoin Great Again” cap, a popular item on sale at the event.
Eric Trump is scheduled to deliver the keynote address on Tuesday and will later host an exclusive “whale-only” session in the VIP lounge. The session, restricted to high-net-worth individuals capable of significantly influencing markets, required a $9,999 pass for admission.
Witkoff addressed a similar exclusive audience on Monday in a closed-door session. He emphasized the administration’s goal of positioning the United States as the global leader in cryptocurrency innovation.
The event’s timing underscores a pivotal moment for the cryptocurrency industry. Trump, who previously expressed skepticism about digital assets, has pivoted to championing them. As “chief crypto advocate” for World Liberty Financial, he, along with Eric, Donald Trump Jr., and Barron Trump, serves as an ambassador for the platform.
Filings reveal that Donald Trump holds a stake in WLF, entitling him to 22.5 billion WLF tokens and a share of its revenue. The platform’s visibility received a further boost when investor Justin Sun, a prominent figure in the crypto world, disclosed a $3 million purchase of WLF tokens shortly after Trump’s election victory.
Marshall Beard, representing Gemini, the cryptocurrency exchange founded by Trump allies Cameron and Tyler Winklevoss, highlighted the conference’s significance. “The Bitcoin MENA conference is one of the longest-running events that unites the crypto industry. It carries immense importance in shaping the future of digital assets,” he said.
Last week, Trump announced the appointment of David Sacks, a former PayPal executive and close associate of Elon Musk, as the White House czar for artificial intelligence and cryptocurrencies. This move further demonstrates Trump’s commitment to advancing the industry.
Despite the fanfare, critics continue to scrutinize Trump’s crypto ventures. Some, like Sun, have faced allegations of crypto-related fraud during the Biden administration. Nonetheless, Trump’s allies remain optimistic, pointing to the influx of technology and digital asset veterans into the political arena.
The Trump family and other speakers declined to comment on their involvement at the conference.
