According to The White House (@WhiteHouse), Steve Witkoff has officially been sworn in by @SecRubio in the Oval Office as the new U.S. Special Envoy to the Middle East. This appointment signals potential shifts in U.S. diplomatic and economic strategies in the region, which could influence oil prices, regional stability, and ultimately global cryptocurrency market volatility. Traders should monitor developments as increased geopolitical engagement in the Middle East has historically impacted Bitcoin and Ethereum price movements through oil-linked inflation and risk sentiment channels (source: @WhiteHouse, May 7, 2025).