From December 9 to 10, the cryptocurrency trading platform Huobi HTX appeared as a sponsor at the Bitcoin MENA Summit held in Abu Dhabi. As the first global cryptocurrency event held in the Middle East and North Africa, the summit attracted many heavyweight guests, including Eric Trump, the second son of US President-elect Donald Trump, CZ Zhao Changpeng, and Marwan Alzarouni, CEO of Dubai Blockchain Center, to discuss the future trends and opportunities of cryptocurrency.

During the summit, Huobi HTX Global Advisor, TRON Founder Justin Sun and Huobi HTX VIP Customer Service Director Charmaine Lim attended and delivered speeches on the current status of the industry, future trends, etc. This move demonstrates Huobi HTX's emphasis on the crypto market in the Middle East and North Africa, and also means that Huobi HTX will continue to deepen its global strategic layout, and at the same time, through exchanges and cooperation with global crypto entrepreneurs and communities, further promote the widespread implementation of crypto applications.

In his keynote speech titled "The Great Debate: Bitcoin vs Crypto", Justin Sun expressed his interpretation of the relationship between Bitcoin and other cryptocurrencies. Sun said that one of the core narratives of Bitcoin is value storage, which requires absolute security and decentralization to reassure every holder. Therefore, the best way for Bitcoin is to keep its original appearance. This may weaken innovation, but it guarantees stability. If you want to pursue innovation and explore cutting-edge consumer technology products, you can do so through other blockchains and cryptocurrencies.

As for Bitcoin breaking through the $100,000 mark, Justin Sun believes that this is inseparable from the help of technological development in the crypto industry. He said, "Tether once issued stablecoins on the Bitcoin Omni Layer, but was limited by the slow speed and could not achieve greater development. USDT on TRON can achieve instant transactions and meet the needs of users. Technological progress has also benefited Bitcoin. The popularity of stablecoins has allowed more funds to enter Bitcoin, helping it achieve the purpose of value storage."

"Every cryptocurrency has its meaning. For example, Ethereum or TRON, their value is easy to understand because millions of users use them every day. At the same time, there are other cryptocurrencies like Meme coins, whose value may be difficult for us to understand immediately, but from DOGE to SHIB to PEPE, Meme coins have already formed a considerable scale. So I think cryptocurrency is like a museum. You may not understand every collection, just like you don’t understand why a banana is worth 6 million US dollars. What you need to do is keep learning as cryptocurrency evolves." Justin Sun added.

Charmaine Lim, head of VIP customer service at Huobi HTX, said in a roundtable forum on the theme of "Improving Access to Bitcoin in the UAE" that the UAE has made significant progress in promoting the adoption of Bitcoin and other cryptocurrencies since 2015. However, some banks are cautious about cryptocurrency transactions, cryptocurrency education is insufficient, and complex and changing regulations still hinder the development of the UAE's cryptocurrency industry.

Charmaine pointed out that Huobi HTX has obtained the preliminary license of VARA in the UAE and is applying for an upgrade to a formal license. At the same time, it is actively establishing cooperation with local banks to provide a more direct trading channel from fiat currency to cryptocurrency. In addition, it will provide global users with learning opportunities on topics such as crypto trading, storage and security through Huobi live broadcasts and online seminars, and continue to update language options, such as providing Arabic support, to improve user experience.

In addition, Charmaine also suggested that the UAE government should build a friendly crypto-enterprise environment and promote the rapid popularization of cryptocurrencies by establishing a clear regulatory framework, simplifying the license application process for various service providers, providing tax incentives for blockchain companies, and expanding the existing regulatory sandbox.

From Blockchain Life, Cardano Summit, to Bitcoin MENA, Huobi HTX's frequent appearances in the UAE in 2024 fully demonstrate its high attention to the development potential of cryptocurrencies in the Middle East and North Africa. Huobi HTX hopes to further promote the popularity and compliance of cryptocurrencies in the region through product innovation and close cooperation with local partners.

In addition, with the booming global cryptocurrency market, Huobi HTX will continue to expand its global business layout, promote the innovation and application of encryption technology, and build a more open Web3.0 ecosystem.