Egyptian authorities have confirmed that 17 people are still missing, including foreign nationals, after a tourist boat sank off the coast of the Red Sea. The boat, named Sea Story, was on a five-day diving trip when it went down on Saturday morning.

The distress signal was received at 05:30 local time (03:30 GMT) from the vessel, which had departed from Marsa Alam with 31 tourists and 14 crew members aboard. The boat was heading to popular diving spots along Egypt’s southern Red Sea coast.

Maj-Gen Amr Hanafi, Governor of Red Sea Province, stated that 28 individuals had been rescued from the sinking boat. They were found in the Wadi el-Gemal area, located south of Marsa Alam, and are currently receiving medical care. Efforts to locate the missing passengers are ongoing, with Egyptian Navy warship El Fateh and military aircraft assisting in the search.

The local council in Marsa Alam confirmed that the crew members of Sea Story were all Egyptian nationals, while the tourists onboard included individuals from the UK, Spain, Germany, the United States, Slovakia, Switzerland, Belgium, Poland, Norway, Ireland, Finland, and China.

Marsa Alam, known for its popular diving spots and coral reefs, attracts many tourists each year. The area is regarded as a top destination for diving enthusiasts seeking to explore the underwater world of the Red Sea.

While there has been no immediate comment from Sea Story‘s Egypt-based operator, Dive Pro Liveaboard, the company’s website states that the vessel was built in 2022 and measures 44 meters (144 feet) in length. It features four decks with 18 cabins, offering accommodation for up to 36 passengers.

The incident has raised concerns over the safety of tourist vessels operating in the region, with authorities promising to continue their search for the missing passengers while providing support to the survivors.

Former President Donald Trump announced Brooke Rollins as his nominee for Secretary of Agriculture, marking the completion of his cabinet lineup. The nomination, revealed late Saturday, sees Rollins, a longtime Trump ally and head of the America First Policy Institute, poised to lead the department responsible for U.S. farm policy.

“As our next Secretary of Agriculture, Brooke will spearhead the effort to protect American farmers, who are truly the backbone of our Country,” Trump said in a statement.

Who Is Brooke Rollins?

Rollins, a prominent figure in Trump’s political orbit, co-founded and leads the America First Policy Institute, a think tank aligned with Trump’s “Make America Great Again” agenda. She previously served as director of the White House Office of American Innovation and acting director of the Domestic Policy Council during Trump’s first administration.

Her roots in agriculture trace back to her upbringing on a farm, where she participated in programs like Future Farmers of America and 4-H. A graduate of Texas A&M University with a degree in agricultural development, Rollins also has a background in law.

If confirmed by the Senate, Rollins would oversee farm subsidies, nutrition programs, meat inspections, and forestry policies. She would also play a pivotal role in trade negotiations, including the U.S.-Mexico-Canada Agreement, potentially implementing Trump’s proposed tariffs.

Completing the Cabinet

Rollins’ nomination concludes Trump’s series of cabinet picks, a process that has drawn significant attention for its mix of loyalists and controversial figures. The 15-member cabinet comprises leaders of executive departments, all requiring Senate confirmation.

Some of Trump’s choices have sparked debates, including Robert Kennedy Jr., nominated to head the Department of Health and Human Services. Kennedy, a former environmental lawyer and vaccine skeptic, previously ran against Trump as an independent before endorsing him.

Other selections faced turbulence, such as former Florida congressman Matt Gaetz, nominated for attorney general. Gaetz withdrew his nomination amid allegations of sexual misconduct and drug use, which he denies. Senators reportedly expressed concerns about his confirmability. Trump swiftly replaced Gaetz with Pam Bondi, a former Florida attorney general.

Pete Hegseth, Trump’s pick for another cabinet role, also faced scrutiny over allegations of sexual assault from 2017, which he denies. Education Secretary nominee Linda McMahon, a former WWE executive, has been criticized for her lack of experience in education.

With Rollins’ nomination, Trump has solidified his cabinet team, though the confirmation process promises to be a contentious battle in the Senate.

Bitcoin surged to unprecedented levels, crossing $99,000 overnight, marking a dramatic rally that has seen the cryptocurrency rise over 40% in just two weeks. Trading at $98,882 early Friday, according to CoinDesk, the digital asset is on the cusp of breaching the symbolic $100,000 threshold, a stark recovery from its $17,000 low after the collapse of FTX two years ago.

Drivers of the Rally

The rally comes as the cryptocurrency industry anticipates a more favorable regulatory environment under President-elect Donald Trump. A vocal supporter of cryptocurrency in recent months, Trump has pledged to make the United States the “crypto capital of the planet,” with plans for a bitcoin “strategic reserve.” His campaign’s acceptance of cryptocurrency donations and his appearance at a bitcoin conference have further boosted sentiment in the market.

Additionally, the approval of spot bitcoin exchange-traded funds (ETFs) earlier this year has attracted significant institutional and retail investment. These ETFs recorded $6 billion in trade volume during election week, according to data from Kaiko, further propelling bitcoin’s rise.

Regulatory Shifts and Economic Context

Market players are hopeful for regulatory clarity as Gary Gensler, the SEC chair who led a crackdown on crypto companies under President Joe Biden, is set to step down on January 20. Many in the industry view Gensler’s departure as an opportunity for a policy shift from enforcement-focused measures to more comprehensive legislative frameworks.

However, the bullish sentiment comes amid lingering concerns about the long-term stability of the market. Citi macro strategist David Glass noted that while current momentum is promising, the impact of regulatory changes will take time to materialize.

Risks and Volatility

Cryptocurrency remains inherently volatile, with past performance showcasing dramatic price fluctuations. For instance, bitcoin fell from nearly $69,000 in November 2021 to below $17,000 by late 2022 during the Federal Reserve’s aggressive rate hikes and the fallout from FTX’s collapse.

Experts caution that while bitcoin’s rally has been extraordinary, risks of corrections persist. “There’s no magic eight ball,” said Adam Morgan McCarthy, a research analyst at Kaiko. He advised investors to remain cautious, especially those with smaller portfolios, emphasizing the importance of managing risk responsibly.

Environmental Concerns

Bitcoin mining’s environmental impact continues to draw scrutiny. A recent study by the United Nations University found that the carbon footprint of global bitcoin mining in 2020-2021 was equivalent to the emissions from burning 84 billion pounds of coal. Despite increased use of cleaner energy, critics argue that bitcoin’s reliance on pollutive sources like coal remains significant.

As bitcoin approaches the $100,000 milestone, the cryptocurrency market faces a mix of optimism and caution. Investors and industry players alike are watching closely to see whether the rally can sustain its momentum in the coming weeks.