According to CoinMeta, Israeli President Herzog has concluded consultations with various political parties and announced the authorization to Gadi Eizenkot, the leader of the Right Wing Party and former Chief of Staff of the Israeli military, to form a new government. Eizenkot is a political rival of the current Prime Minister Benjamin Netanyahu. Based on the results of the consultations, the party representing 67 members of parliament recommended Eizenkot, while the party representing 46 members recommended Netanyahu. Another party with 7 seats did not recommend anyone. The Israeli President’s office stated that over the past few days, the president has held in-depth discussions with several figures in Israeli politics, including Netanyahu and Eizenkot, and has conveyed his intention to authorize Eizenkot. According to Israel’s Basic Law on Government, the member of parliament who receives the authorization to form a government has 28 days to establish a new government. If necessary, the president may extend this period by up to another 14 days according to the law.