Trump Sends His Crypto Team to Abu Dhabi for Bitcoin Conference

More than 6,000 people were there to attend the conference, where Eric Trump gave the keynote presentation. Additionally, Witkoff addressed a more elite audience separately, requiring a $9,999 "whale" pass: a term used to describe powerful individuals who can shift a market.

Sons Eric, Don Jr., and Barron are ambassadors, and the president-elect is the organization's leading crypto evangelist. Donald Trump is entitled to 22.5 billion WLF tokens and a portion of the company's profits, according to company papers.

The Bitcoin Conference: An Aim To Unite The Sector

Marshall Beard, chief operating officer of Gemini, the cryptocurrency exchange established by Trump supporters Cameron and Tyler Winklevoss also mentioned that the Bitcoin conference holds great importance for the cryptocurrency industry because it is one of the oldest gatherings aimed at uniting our sector.

Watching the expansion of the conference and the ascent of bitcoin has been amazing and cryptocurrency emerged as a key campaign issue in the presidential election this year.

Will America Be The New Crypto Capital?

Justin Sun, the thirty-two-year-old Chinese inventor of the cryptocurrency platform Tron, was also among the other speakers who have strong connections to WLF. Sun said on X that he had purchased $30 million worth of WLF tokens, becoming the venture's biggest investor, three weeks after Trump's victory in the US election.

During the Biden administration, Sun was accused of securities breaches and fraud about cryptocurrency. Trump, a former crypto skeptic, has declared he will be the "crypto president" and turn America into the new "crypto capital of the planet," thus the Gulf meeting comes at a critical juncture for the sector. Bitcoin surpassed records in the last few weeks when it hit $100,000, propelled by these assurances.

PayPal CEO and Money Laundering

Additionally, Trump appointed David Sacks, a former PayPal CEO and close friend of Trump adviser and donor Elon Musk, as a White House czar for cryptocurrency and artificial intelligence. According to documents, Musk spent over a quarter of a billion dollars to support Trump's election.

According to analytics company Breadcrumbs, other veterans of the digital asset and technology sectors also donated millions to candidates who were supportive of the sector.

Changpeng Zhao, the founder of Binance, who was sentenced to four months in prison in the United States this year for violating money-laundering laws related to cryptocurrency, will also conduct a "whale" session during the conference. Requests for comment from Reuters were not answered by Trump, his family, other speakers, or their businesses.