Odaily News Michael Ashby, former head of digital asset strategy implementation at Point72 hedge fund, has joined cryptocurrency trading company AlgoQuant as CEO. Ashby said AlgoQuant will actively expand its digital asset management business and has moved its headquarters from New Jersey to Dubai as part of its expansion plan in the UAE. Similar to other cryptocurrency companies, AlgoQuant chose to establish a base in the UAE to take advantage of the local rich oil resources and friendly regulatory environment. Ashby said that the UAE government's support for the cryptocurrency industry and well-thought-out regulatory strategy are key factors in attracting them to start new business here. (Bloomberg)