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Middle EastJanuary 4 2023

Arabian crypto dreams look like a mirage

The fallout from the collapse of FTX has been felt keenly in the Arabian Gulf, where several jurisdictions have positioned themselves as would-be crypto hubs. John Everington reports.
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Arabian crypto dreams look like a mirage

Nouriel Roubini does not mince his words. Earning the nickname of ‘Dr Doom’ after correctly predicting the 2008 financial crisis, the chairman and CEO of Roubini Macro Associates has enjoyed courting controversy (and making headlines) with a series of dire pronouncements about threats to the global economy, not all of which came to pass.

Nonetheless his mid-November remarks about cryptocurrencies and those that promote them — made at the UAE government-sponsored Abu Dhabi Finance Week conference — raised eyebrows for their implicit criticism of the policies of the host country.

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John Everington is the Middle East and Africa editor. Prior to joining The Banker, John was the deputy business editor of The National in the UAE, and has also worked for Dealreporter, Arab News and The Telegraph. He has also covered the telecom sector in Africa and the Middle East, living and working in Qatar and the UK. John has a BA in Arabic and History and an MA in Middle Eastern Studies from the School of Oriental and African Studies (SOAS) in London.
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