Friday, March 7, the cryptography industry came to Washington DC in particular, they came to the dining room of the White House, where the first “crypto summit” of the nation took place.
President Donald Trump, flanked by the Treasury Secretary Scott Bessent, of the trade secretary Howard Lutnick, and David Sacks “AI and Crypto Czar”, addressed the more than two dozen Crypto leaders and the representatives of the federal agencies to provide comments on how the United States can become a leader in the digital space of active.
“Unfortunately, in recent years, the US government has sold tens of thousands of additional bitcoins that have been billions of dollars … never sell your bitcoin. This is a sentence they have, I don’t know if it is bad or, that the H – knows, “said Trump during his opening remarks.
Regarding the potential regulations of national cryptography, he said: “I hope that the legislators will send regulations to my office before the recess in August.”
For their part, the stakeholders in the industry, ranging from Jamming CEO Brian Armstrong,, Robin CEO Vlad Tenev,, Chain link‘s Sergey NazarovStrategy President Michael Saylor, Bitcoin Mining Company MaraCEO of Fred Thiel,, Ripple Founder Brad Garlinghouse,, Crypto.com CEO Kris MarszalekAnd dozens of others, all seemed happy to be in the White House and to contact the President.
“No one in this room could have imagined this two years ago. It is incredible how far we came ”- it was the theme of the opening remarks of many in industry, including the Winklevoss twins associated with Gemini, who first responded to Trump.
“The United States has won the Internet and the United States should also win Crypto,” said Tyler Winklevoss.
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Trump goes everything on the crypto while the industry thanks
Apart from heads of government, there was no representative of the traditional financial sector present.
Unbeatable but speculated participants for the summit on Friday included the co-founder of Ethereum Vitalik Buterin, the co-founder of Circle Jeremy Allaire, the founder of Cardano Charles Hoskinson and the founder of Solana, Anatoly Yakovenko. Paolo Ardoino, CEO of Stablecoin from Tether, was in the White House as recently as Thursday March 6, according to his account X, but it is not clear if he participated in the top of the crypto on Friday.
For VIP crypto not invited to the White House, a larger reception and invitation would be planned in the street.
“Being in the White House is a big problem for you guys,” Trump told Crypto executives gathered on Friday.
And industry has a lot to celebrate. An executive decree signed by Trump on January 23 has established a presidential working group on the digital asset markets which strive to develop a federal regulatory framework governing digital assets; And Thursday, Trump signed an executive decree to establish a Bitcoin Strategic Reserve (SBR) and a stock of American digital assets.
The reserve will be financed exclusively by Bitcoin seized in cases of criminal and civil confiscation, and the order marked the first official recognition of Bitcoin by the American government as a strategic asset. Non -bitcoin active ingredients will be placed in a separate digital stock stock managed by the Treasury Department.
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The United States wants to “win‘ With crypto
None of the Bitcoin put in the SBR, with the government’s assets estimated at 200,000 bitcoins, will be sold; While assets in the storage of digital assets can be sold by the Treasury, according to Trump’s comments at the summit on Friday.
“The Treasury and Trade departments will also explore new paths to accumulate additional Bitcoin holders for the reserve,” added the president.
Pymnts covered Friday earlier than the news that the secretary of the Treasury Scott Bessent said that he was a “big supporter of the United States taking over the world in crypto”, and it was the general theme of the summit on Friday. Popular rumors concerning subjects such as the United States removing capital gains on crypto taxes were not discussed on Friday.
While the United States is looking to “win” with Crypto, at least one business affiliated with Trump is already. The entities that created the $ Trump memes play would have won at least $ 350 million in the three weeks of launch, Pymnts covered on Friday. In addition to winning $ 314 million in tokens sales and $ 36 million in fresh blockchain Solana, entities have probably earned more money from tokens offered on cryptocurrency exchanges.
