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The ghost of FTX haunts the crypto industry, but Bitcoin is attempting to leave it behind as BTC price gains endure. 3911 Total views 18 Total shares Listen to article 0:00 Markets News Own this piece of history

Collect this article as an NFT Bitcoin (BTC) starts a new week at new 2023 highs, but still divides opinion after a blistering price rally.

In what is shaping up to be the antidote to last years slow bleed to lower prices, January has delivered the volatility Bitcoin bulls were hoping for but can they sustain it?

This is the key question for market participants going into the third week of the month.

Opinion remains divided on Bitcoins fundamental strength; some believe outright that the march to two-month highs is a suckers rally, while others are hoping that the good times will continue at least for the time being.

Beyond market dynamics, there is no shortage of potential catalysts waiting to assert themselves on sentiment.

United States economic data will keep coming, while corporate earnings could deliver some fresh volatility to stock markets this week.

Cointelegraph takes a look at five potential BTC price movers as all eyes focus on new support levels and the fate of the Bitcoin bear market.BTC price due consolidation, analysts agree

Bitcoin has faced increasing skepticism after passing some key resistance levels throughout the past week.

As Cointelegraph reported, the consensus remains skewed to the bearish side long term, with few believing that current momentum will end up any more than a bear market rally.

With warnings of new macro lows of $12,000 still in force, analysts are watching for signs of a comedown. So far, however, this has not materialized.

The weekly close tied with those from just before the FTX collapse, with BTC/USD still above $20,000 at the time of writing, having hit new local highs of $21,411 overnight, data from Cointelegraph Markets Pro and TradingViewshowed.

Volatility remained in action, with moves of several hundred dollars commonplace on hourly timeframes. A flash dip below the $21,000 mark was described by commentator Tedtalksmacro as a liquidity hunt.

Analyzing levels to hold in the event of a broader retracement, on-chain analytics resource, Material Indicators identified the 21-week moving average (MA) at $18,600.

Another $11M bid wall placed to defend the Bitcoin 2017 Top, it noted alongside an additional chart of the Binance order book. Holding above that level is symbolic and increases the probability of extending the rally, but IMO holding the 21-Week MA is critical for a sustained rally. TradFi is closed Monday for MLK Day. Volatility continues.BTC/USD 1-day candle chart (Bitstamp) with 21-week MA. Source: TradingView

A previous post added that whale activity was indeed helping to buoy the market on exchanges.

Eyeing the reversal of FTX losses, meanwhile, trading account Stockmoney Lizards called for a little (sideways) consolidation at current levels.

Michal van de Poppe, founder and CEO of trading firm Eight, said that Bitcoin might indeed consolidate due to changes in flagging United States dollar strength.

The U.S. Dollar Index still traded near its lowest levels since early June 2022 on the day, having hit 107.77.U.S. Dollar Index (DXY) 1-day candle chart. Source: TradingViewFocus shifts to earnings as stocks catalyst

This week will get off to a brisk start in terms of macro data, with producer price inflation data coming on Jan. 18.

This will come amid various speeches from Federal Reserve officials, while stocks will likely be swayed by another phenomenon in the form of corporate earnings reporting throughout the week.

As noted by Bank of America strategists in a note last week, the S&P 500 has become particularly sensitive to earnings reports, with their impact overtaking classic data releases such as the Consumer Price Index.

We see this as a narrative shift in the market from the Fed and inflation to earnings: reactions to earnings have been increasing, while reactions to inflation data and FOMC meetings have been getting smaller, they wrote, quoted by media outlets including CNBC.

The strategists referred to the Federal Open Market Committee (FOMC) meeting on Feb. 1 to decide on interest rate hikes.

The rate hike is currently expected to be lower than any since early 2022, with sentiment favoring a 0.25% increase, according to CME Groups FedWatch Tool.Fed target rate probabilities chart. Source: CME Group

The lower the Fed Funds, the more liquidity there is in the system, Ram Ahluwalia, CEO of digital asset investment advisor Lumida Wealth Management, wrotelast week.

An accompanying chart showed what Ahluwalia suggested was a beneficial relationship between lower Fed funds rates and Bitcoin liquidity.

He continued by referencing an appearance on mainstream media by veteran economist Larry Summers on Jan. 13, in which the latter made positive noises about inflation abating.

Larry made a statement saying the Feds fight against inflation is much, much closer to being done. This is a positive surprise to risk assets and supports the Fed pivot camp, he argued. BTC benefits from QE Hypothesis: One of the big macro desks listened and went long bitcoin.Bitcoin vs. Fed funds rate chart. Source: Ram Ahluwalia/ TwitterGBTC winning streak continues

On the topic of institutional interest recovery, another chart retracing the entirety of its FTX losses is the largest Bitcoin institutional investment vehicle, the Grayscale Bitcoin Trust (GBTC).

Data from Coinglass shows that as of Jan. 13, the latest date for which data is available, GBTC shares traded at a discount to the net asset value of 36.26%.

This discount, formerly positive and known as the GBTC premium, has been ticking higher since the end of December 2022 and is now higher than at any point since the FTX meltdown.

Its largest-ever reading came just before that, when it hit 48.62%, with GBTC suffering as part of parent company Digital Currency Groups own FTX troubles.

That controversy continues to rage, often publicly, but GBTC is delivering its most encouraging results in months.

Behind the scenes, Grayscale continues to battle U.S. regulators over their refusal to allow it to convert GBTC to an exchange-traded fund (ETF) based on the Bitcoin spot price.

In an extensive Twitter update on Jan. 13, Craig Salm, Grayscales chief legal officer, referenced the firms commitment to win its case and bring the first spot Bitcoin ETF to the market in the U.S.

To reiterate, converting GBTC to a spot Bitcoin ETF is the best long-term way for it to track the value of its BTC, he summarized. Our case is moving forward swiftly, we have strong, common sense and compelling legal arguments and were optimistic that the Court should rule in our favor.GBTC premium vs. asset holdings vs. BTC/USD chart. Source: CoinglassDifficulty hits new all-time high

If Bitcoins price recovery were not enough to get bulls excited, its network fundamentals tell a similarly encouraging story.

Roughly in step with the weekly close, network mining difficulty increased by over 10%, marking its biggest uptick since October 2022.Bitcoin network fundamentals overview (screenshot). Source: BTC.com

The move has obvious implications for Bitcoin miners and suggests that the ecosystem already benefits from higher prices.

As Cointelegraph reported, miners had already been slowing the pace of their BTC reserve sales in recent weeks. At the same time, the difficulty increase reflects competition for block subsidies returning to the sector.

Over the past week, however, miner balances have decreased in response to Bitcoins rapid price rise. They stood at 1,823,097 BTC as of Jan. 16, data from on-chain analytics firm Glassnode shows, marking one-month lows.Bitcoin miner BTC balance chart. Source: Glassnode

Despite this, miner difficulty has now erased its FTX reactions and set a new all-time high in the process.

Bitcoin is in the process of retesting the estimated average cost of production price for Miners, Glassnode additionally notd last week before most of the gains came.

It added that breaking above this level like offers much needed relief to miner incomes.

An accompanying chart showed its proprietary difficulty regression model, which it describes as an estimated all-in-sustaining cost of production for Bitcoin.Bitcoin difficulty regression model chart. Source: GlassnodeSentiment exits “fear” as whales buy big

It is no secret that the average Bitcoin hodler is experiencing some much-needed relief this month, but is it a case of unchecked euphoria?

Related:5 altcoins that could breakout if Bitcoin price stays bullish

According to the time-honored yardstick, the Crypto Fear & Greed Index, it could be too much, too soon regarding changes in the mood over Bitcoin price strength.

On Jan. 15, the Index hit its highest level since April2022.While not greedy yet, the move marks a significant change from just weeks prior.Crypto Fear & Greed Index (screenshot). Source: Alternative.me

The crypto market spent a large swathe of 2022 in its lowest extreme fear bracket.

Now, it is scoring above 50/100, dropping slightly into the new week to remain in neutral territory.

For research firm Santiment, which specializes in gauging the atmosphere around crypto markets, there is one overriding factor influencing Bitcoins newfound strength.

The answer, it wrote in a Twitter post at the weekend, lies firmly in whale activity.

Over the ten days to Jan. 15, big and small whales added to their positions, sparking a supply and demand chain reaction. In total, over that period, they purchased 209,700 BTC.

Santiment called the data a definitive explanation on why crypto prices have bounced.BTC accumulation annotated chart. Source: Santiment/ Twitter

The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. #Bitcoin #Bitcoin Price #Markets #Stocks #Inflation Related News What is total value locked (TVL) in crypto and why does it matter? Can Canada stay a crypto mining hub after Manitobas moratorium? Why is the crypto market up today? 5 cryptocurrencies that could benefit from a positive CPI report Bitcoin derivatives data suggests a BTC price pump above $18K wont be easy

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‘I wasn’t trying to build anything in a lab’: How Jacob deGrom is learning to throw smarter, not harder

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'I wasn't trying to build anything in a lab': How Jacob deGrom is learning to throw smarter, not harder

SURPRISE, Ariz. — When Jacob deGrom stepped on the mound for his first live batting practice this spring, a voice in his head told him: “All right, I want to strike everybody out.” That instinct had guided deGrom to unimaginable heights, with awards and money and acclaim. It is also who he can no longer be. So deGrom took a breath and reminded himself: “Let’s not do that.”

Nobody in the world has ever thrown a baseball like deGrom at his apex. His combination of fastball velocity, swing-and-miss stuff and pinpoint command led to one of the greatest 90-start stretches in baseball. From the beginning of 2018 to the middle of 2021, he was peak Pedro Martinez with a couple of extra mph — Nolan Ryan’s fastball, Steve Carlton’s slider, Greg Maddux’s precision.

Then his arm could not hold up anymore, and for more than three years, deGrom healed and got hurt, healed and needed Tommy John surgery in June 2023 to repair the ulnar collateral ligament in his right elbow, then healed once more. That delivers him to this moment, in camp with the Texas Rangers, ready to conquer a 162-game season for the first time since 2019 — and reminding himself when to hold back.

The instinct to be all he can be never will go away. But instead, as his efforts at learning to throttle down manifest themselves daily and were particularly evident in those early live ABs, deGrom induced ground balls on early contact and ended his day with a flyout on the second pitch of the at-bat.

DeGrom had blown out his elbow once before, as a minor leaguer in October 2010, and this time he understands his mandate. He is now 36, and nobody has returned to have any sort of substantive career after a third Tommy John, so keeping his arm healthy as he comes back from his second is imperative. This is the last phase of deGrom’s career, and to maximize it, he must change. It does not need to be a wholesale reinvention. For deGrom, it is more an evolution, one to which he accustomed himself by watching video of his past self.

DeGrom at his best simply overwhelmed hitters. At-bats turned into lost causes. He was the best pitcher in the world in 2018, when he threw 217 innings of 1.70 ERA ball and struck out 269 with just 46 walks and 10 home runs allowed. The following year, he dedicated himself to being even more, winning his second Cy Young and proving he was no one-season fluke. DeGrom routinely blew away one hitter, then made the next look like he’d never seen a slider. He painted the plate with the meticulousness of a ceramic artist.

“I look at the best — ’18,” deGrom said of his first Cy Young season. “There were times where I hit 100 or close to it, but I think I sat around 96.”

He did. Ninety-six mph on the dot for his high-spin four-seam fastball. It jumped to 96.9 in 2019, 98.6 in 2020 and 99.2 in 2021. In the 11 games deGrom pitched toward the end of 2022, it was still 98.9 — and then 98.7 before he blew out again.

“I have to look at it like, hey, I can pitch at that velocity [from 2018],” deGrom said. “It is less stress on your body. You get out there and you’re throwing pitches at 100 miles an hour for however many pitches it is — it’s a lot of stress. It’s something that I’m going to look into — using it when I need it, backing off and just trusting that I can locate the ball.”

He had not yet adopted that attitude in 2022, when those 11 starts convinced deGrom to opt out of his contract with the New York Mets, who had drafted him in the ninth round in 2010. Immediately, the Texas Rangers began their pursuit. General manager Chris Young pitched for 13 years in the major leagues and knows how hard it is to be truly great. He grunted to hit 90 with his fastball. Someone who could sit 99 with 248 strikeouts against 19 walks in 156⅓ innings (as deGrom did in the combined pieces of his 2021 and 2022 seasons) and make it look easy is one of a kind. Injury risk be damned, Texas gave deGrom $185 million over five years.

He played the part in his first five starts for Texas. Then he left the sixth with elbow pain. Done for the year. Surgery on June 12 — 11 days after the birth of his third child, Nolan. He carried Nolan around with his left arm while his right was in a brace that would click a degree or two more every day to eventually reteach deGrom to straighten his arm.

He taught himself how to throw again, too, under the watchful eyes of Texas’ training staff and Keith Meister, the noted Tommy John surgeon who is also the Rangers’ team doctor. They wanted to build back the deGrom who scythed lineups — but this time, with decision-making processes guided by proper arm care.

Part of that showed in deGrom’s September cameo last year. His fastball averaged 97.3 mph, and he still managed to look like himself: 1.69 ERA, 14 strikeouts against one walk with one home run allowed in 10⅔ innings. Rather than rush back, deGrom put himself in a position to tackle the offseason. Those innings were enough to psychologically move past the rehabilitative stage and reenter achievement mode. He trained with the same intensity he did in past seasons. The stuff would still be there. While peers were spending the winter immersed in pitch design, deGrom was seeking the version of himself that could marry his inherent deGromness with the sturdiness he embodied the first six years of his career.

“I wasn’t trying to build anything in a lab,” deGrom said. “My arm got a little long a few years ago, so trying to shorten up the arm path a little bit and sync up my mechanics really well is what I’ve been trying to do.”

Rather than jump out in the first start of the spring to prove that heartiness, deGrom took his time. It is a long season. He wants to be there in the end. His goal for this year is straightforward: “Make as many starts as I can.” If that means throwing live at-bats a little longer than his teammates, that’s what he’ll do. Ultimately, deGrom is the one who defines his comfort, and he went so long without it that its priority is notable.

So if that means shorter starts early in the season, it won’t surprise anyone. There is no official innings limit on deGrom. The Rangers, though, are going to monitor his usage, and he doesn’t plan to use those limited outings to amp up his velocity. This is about being smart and considering more than raw pitch counts or innings totals.

“I think it’s going to be a monitor of stressful innings versus not,” deGrom said. “You have those games where you go five innings, you have 75 pitches, but you’ve got runners all over the place, so those are stressful. Whereas you cruise and you end up throwing 100 pitches and you had one or two runners. It’s like, OK, those don’t seem to be as stressful. So I think it’s monitoring all of that and just playing it by ear how the season goes.”

That approach carried into deGrom’s spring debut Saturday against the Kansas City Royals. He averaged 97 mph on his fastball, topping out at 98. His slider remained near its previous levels at 90. He flipped in a pair of curveballs for strikes, too, just as a reminder that he’s liable to buckle your knees at any given moment. On 31 pitches, deGrom threw 21 strikes, didn’t allow a baserunner and punched out three, including reigning MVP runner-up Bobby Witt Jr. on a vicious 91.5-mph slider.

On his last batter of the day, deGrom started with a slider well off the plate inducing a swing-and-miss from Tyler Gentry, then followed with a low-and-not-quite-as-outside slider Gentry spit on. When a curveball that was well off the plate was called a strike, deGrom saw an opportunity. This is the art of pitching — of weighing the count, what a hitter has seen, how to take advantage of an umpire’s zone. He dotted a 97.3-mph fastball on the exact horizontal plane as the curveball and elevated it to the top of the strike zone, a nasty bit of sorcery that only a handful of pitchers on the planet can execute at deGrom’s level. Gentry stared at it, plate umpire Pete Talkington punched him out and deGrom strode off the mound, beta test complete.

“It’s always a thing of trusting your stuff,” deGrom said. “It’s one of the hardest things to do in this game, and part of it’s the fear of failure. You throw a pitch at 93 when you could have thrown it at 98 and it’s a homer, you’re like, ‘Why did I do that?’ So that’s the part that gets tough. You still have to go out there and trust your stuff, know that you can locate and change speeds, and still get outs not full tilt the whole time.”

Day by day, deGrom inches closer to that. He’ll get a little extra time, with the likelihood the Rangers will hold him back until the season’s fifth game, just to build in rest before the grind of a new season. He’s ready. It has been too long since he has been on the field regularly, contributing, searching for the best version of himself. It might look a little different. And if it does, that’s a good thing.

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Greenland’s slow independence party wins election in result seen as rejection of Trump’s interference

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Greenland's slow independence party wins election in result seen as rejection of Trump's interference

Greenland’s centre right opposition party has won the most votes in elections that will be seen as a rejection of Donald Trump’s interference in the island’s politics.

The Demokraatit party won 30% of the vote. It favours a slow move towards independence from Denmark.

On the eve of the election, its leader Jens-Frederik Nielsen had told Sky News voters should use the election to warn the US president not to meddle in their future.

He said: “I hope it sends a clear message to him that we are not for sale.

“We don’t want to be Americans. No, we don’t want to be Danes. We want to be Greenlanders. And we want our own independence in the future. And we want to build our own country by ourselves, not with his hope.”

Chairman of Demokraatit, Jens-Frederik Nielsen, center, plays guitar as he reacts during the election party at Demokraatit by cafe Killut in Nuuk, early Wednesday, March 12, 2025. (Mads Claus Rasmussen/Ritzau Scanpix via AP)
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Chairman of Demokraatit, Jens-Frederik Nielsen, centre, plays guitar at an election party in Nuuk. Pic: AP

Donald Trump has been actively trying to prise Greenland away from Denmark, urging its people to determine their own future and join the United States.

A few days before they went to vote he promised “billions of dollars” in investment telling them he will “make you rich”.

More on Denmark

The intervention made the election Greenland’s most closely watched and highly charged in its history.

All its parties advocate independence but differ on how quickly it can happen.

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Does Greenland want to be part of the US?

The territory’s second opposition party Naleraq made big gains in its share of the vote. It wants a swift move to independence.

One candidate, Qupanak Olsen, told Sky News Donald Trump’s interference had helped its cause.

“It’s making us aware, we are worth more than what the Danish people have been telling us for the last 300 years, maybe we can stand on our own two feet,” she said.

The party’s relative success may give Trump and its supporters hope they can do more to encourage independence in the future.

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Why does Trump want Greenland?

But it’s important to stress joining the US is not a popular idea here.

Even Ms Olsen rejected any moves towards joining the US, saying Greenland would not swap 300 years of colonialism under Denmark for more of the same under the US.

There were bigger issues dominating the election for Greenlanders. Insufficient healthcare, especially for cancer treatment for instance, is a major grievance on this remote but vast island.

But for the US president this was all about his neo-imperialist ambitions, openly musing yesterday about erasing borders between the US, Canada and Greenland.

Read more on Sky News:
Russia firm on ceasefire – latest
UK ‘disappointed’ by tariffs
How Canada is defying Trump

Members of Inuit Ataqatigiit political party dance with national flags at a party after parliamentary elections in Nuuk, Greenland, Tuesday, March 11, 2025. (AP Photo/Evgeniy Maloletka)
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Inuit Ataqatigiit supporters in Nuuk. Pic: AP

His brazen play for Greenland and its vast largely untapped mineral wealth did not go down well among the fiercely independent islanders.

President Trump’s unashamed meddling has baffled observers. He says Greenland is vital for America’s security, and yet the US already has military bases on its territory and has been offered the possibility of building more.

Equally, US mining companies have every right to join the effort to extract its huge mineral wealth, as Chinese, European, Canadian and Australian firms have been attempting for decades.

It is however not an easy process. Greenland’s vast size, lack of roads and Arctic climate are huge challenges.

It is as reluctant to yield its mineral riches as it seems its people are to succumb to the advances of a US president.

This election shows Donald Trump will have to try harder if he wants to win the affections of Greenland’s people and Greenland’s elusive natural bounty.

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Steve Witkoff: Who is the real estate mogul tasked with brokering peace in Ukraine?

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Steve Witkoff: Who is the real estate mogul tasked with brokering peace in Ukraine?

As the world waits for Russia’s next move over the US-proposed ceasefire deal with Ukraine, only one man has been trusted to head up Donald Trump’s envoy to Moscow – and he’s far from the typical diplomat.

Initially named as Mr Trump’s Middle East envoy shortly after the US election, Steve Witkoff has since been involved in negotiations with Russia about ending the war in Ukraine.

His surprise trip to Moscow last month to achieve the release of US citizen Marc Fogel seemed to secure the 67-year-old as the US leader’s geopolitical dealmaker-in-chief.

Ukraine war latest: Follow live updates

Off the back of his first meeting with Russian President Vladimir Putin, Mr Witkoff is believed to be seeing him again later this week to discuss diplomatic proposals – though the Kremlin is yet to confirm this.

He has been chosen to go to Moscow by Mr Trump over US secretary of state Marco Rubio, who on paper is the country’s top diplomat, and Keith Kellogg, who was assigned to be the US envoy for Russia-Ukraine peace talks back in January.

So who is Steve Witkoff, and how important a figure will he be as the US tries to navigate peace between Russia and Ukraine?

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‘Trump is listening intently’ to European leaders

From New York real estate to the Oval Office

Born in the Bronx, New York State, Mr Witkoff trained as a lawyer in real estate before turning his hand to property development.

In the 1990s he created his company, the Witkoff Group, which owns a number of properties in New York, most notably the Park Lane Hotel and The Woolworth Building.

Similarly to Mr Trump, he brought his close family members into his company, including his wife, Lauren Rappoport, and their sons Zach and Alexander, who is co-chief executive.

As of 2019, the Witkoff Group owned almost 50 properties across the US and the rest of the world.

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‘If Russia says no, it will tell us a lot’

‘My dear friend President Trump’

The billionaire has known Mr Trump for decades, having first met him through a New York real estate company where the now president was a client.

Having remained close, the pair bonded over their mutual love of golf, and weredescribed by US senator Lindsey Graham as “longtime golf buddies”.

Mr Witkoff was one of those on the fifth hole with the president at his course in West Palm Beach, Florida, in September last year, when a second apparent assassination attempt was made on his life.

President Donald Trump speaks to businessman Steve Witkoff, who lost his son Andrew to a prescription drug overdose, during the White House Opioid Summit in the East Room of the White House, Thursday, March 1, 2018, in Washington. (AP Photo/Evan Vucci)
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Mr Trump and Mr Witkoff back in 2018. Pic: AP

But despite being regular opponents on the course, Mr Witkoff and Mr Trump are very much aligned in politics, with the businessman having donated to the Republican Party during the 2024 election.

He even spoke at the Republican National Convention back in July last year, where he said he had the “privilege” of calling Mr Trump a “true and dear friend for many years, in good times and bad times”.

Mr Witkoff also firmly backed Mr Trump’s foreign policy, saying at the inauguration parade: “We are done carrying the financial burden of nations that are unwilling to fund their own progress.

“The days of blank checks are over”.

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A critical player in Middle East negotiations

During Mr Trump’s first term in office, Mr Witkoff played a more minor role, serving as one of the president’s Great American Economic Revival Industry Groups – which aimed to combat the effects of the COVID-19 pandemic.

It was over lunch with Mr Trump after his second election win that Mr Witkoff reportedly broached the idea of working on the Middle East – a region he has extensive business ties with, according to NBC.

“That stunned me because I didn’t know he was that interested in the Middle East,” Senator Graham told NBC back in January, while discussing Mr Witkoff’s appointment.

“And Trump looked at me and said: ‘Well, a million people have tried. Let’s pick a nice guy who’s a smart guy’.”

FILE - President-elect Donald Trump listens to Steve Witkoff speak during a news conference at Mar-a-Lago, Jan. 7, 2025, in Palm Beach, Fla. (AP Photo/Evan Vucci, File)
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Mr Trump and Mr Witkoff speaking in January. Pic: AP

Since the beginning of the year, Mr Witkoff has proven to be a critical player in negotiations between Israel and Hamas – helping to secure January’s ceasefire deal which has so far seen the release of some of the remaining Israeli hostages in exchange for Palestinian prisoners.

One person familiar with the negotiations described Mr Witkoff to NBC as someone who is “very much engaged” with “his heart is in the right place”.

A Middle Eastern diplomat, who spoke with NBC on condition of anonymity at the time, added that the businessman was a tough negotiator but was also able to “empathise” with parents who have lost their children on both sides of the conflict, as he openly spoke about his son Andrew, who died of an OxyContin overdose in 2011 aged 22.

U.S. Secretary of State Marco Rubio meets with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud, Saudi National Security Advisor Mosaad bin Mohammad Al-Aiban, U.S. National Security Advisor Mike Waltz, U.S. Middle East envoy Steve Witkoff, Russian Foreign Minister Sergei Lavrov and Russian President Vladimir Putin's foreign policy advisor Yuri Ushakov, at Diriyah Palace, in Riyadh, Saudi Arabia.
Pic: Reuters
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US delegation – featuring Mr Witkoff – meets with Saudi and Russian officials. Pic: Reuters

Growing criticism

Despite praise for Mr Witkoff’s approach to geopolitics, there is also growing criticism against him.

Shortly after his visit to Gaza back in January, he backed Mr Trump’s surprise announcement that the US wanted to “develop” the region and turn it into the “Riviera of the Middle East”.

Mr Trump suggested that Gaza’s two million people would not return to their territory under the plans, which has been widely criticised as amounting to ethnic cleansing.

Steve Witkoff speaking at a Saudi-run investment forum in Miami
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Mr Witkoff said he had developed a ‘friendship’ with Vladimir Putin

Mr Witkoff also faces questions over his first private meeting with President Putin last month, in which he said he had developed a “friendship” with the Russian leader.

Read more:
What’s in the US-proposed Russia and Ukraine ceasefire deal?
Ukraine peace talks are ‘first step’ and ‘an achievement’
US to resume intelligence sharing with Ukraine

Speaking about his relationship with Mr Putin, he said: “I spent a lot of time with Putin. Talking and developing a friendship and relationship with him…”

He claimed their conversation lasted over three hours.

However, the details of the conversation and what was discussed have never been released, with only translators present at the time.

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