Such is the delight of the cryptocurrency world at Donald Trump's return as US president that even his former aide turned arch-critic Anthony Scaramucci found a few positive words to utter about his former boss at Davos.
Mr Scaramucci, who infamously lasted just 11 days as Mr Trump's White House director of communications in 2017, now runs an investment management company called Sky Bridge that focuses on cryptocurrencies. He told a panel at the World Economic Forum on Tuesday that Mr Trump's second administration would bring in “fair regulations” for the industry.
“It's going to unleash an amazing amount of global innovation, and you've got to give the president and his team credit for understanding it,” Mr Scaramucci said. “I am very hopeful and very pragmatically optimistic.”
It wasn't all praise for the president though: Mr Scaramucci reckons a memecoin called the Official Trump token, or $TRUMP – which was swiftly followed by a First Lady-themed variant called $MELANIA – might be bad publicity for newcomers to the crypto world. “You have older people in politics, older people in policymaking, that still do not understand the industry,” he said.
“I don't want them to meet the ideas behind the Trump memecoin and the potential negative things that are associated with the Trump memecoin. I just think it's going to slow down some people in the regulatory process.”
The price of Bitcoin hit an all-time peak of $109,241 ahead of Monday's inaugural ceremonies at the US Capitol. It later fell back after crypto failed to make an appearance in Mr Trump's first-day blitz of executive orders.
Crypto bosses at Davos called for clear regulations for the industry after what was seen as a mixed bag of policies under Joe Biden. Mr Trump told a Bitcoin conference last year that he wanted to make the US the “crypto capital of the planet”.
“The Trump effect cannot be denied here,” said Brian Armstrong, the chief executive of crypto exchange Coinbase. “To have the leader of the largest-GDP country in the world come out undeniably and say that he wants to be the first crypto president, he wants the industry to be built in America, that he's going to direct every agency of the US government to work towards clear rules which enable innovation – this is unprecedented.
“We just yesterday saw an all-time high price for Bitcoin at $109,000. I think that's largely due to the inauguration.”
SQUADS
Pakistan: Sarfraz Ahmed (capt), Azhar Ali, Shan Masood, Sami Aslam, Babar Azam, Asad Shafiq, Haris Sohail, Usman Salahuddin, Yasir Shah, Mohammad Asghar, Bilal Asif, Mir Hamza, Mohammad Amir, Hasan Ali, Mohammad Abbas, Wahab Riaz
Sri Lanka: Dinesh Chandimal (capt), Lahiru Thirimanne (vice-capt), Dimuth Karunaratne, Kaushal Silva, Kusal Mendis, Sadeera Samarawickrama, Roshen Silva, Niroshan Dickwella, Rangana Herath, Lakshan Sandakan, Dilruwan Perera, Suranga Lakmal, Nuwan Pradeep, Vishwa Fernando, Lahiru Gamage
Umpires: Ian Gould (ENG) and Nigel Llong (ENG)
TV umpire: Richard Kettleborough (ENG)
ICC match referee: Andy Pycroft (ZIM)
KILLING OF QASSEM SULEIMANI
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Document everything immediately; including dates, times, locations and witnesses
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You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Hili 2: Unesco World Heritage site
The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.
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Engine: 2-litre turbocharged
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Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Strait of Hormuz
Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.
The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.
Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.
Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.