In a significant move for the cryptocurrency sector, President Trump is set to host leading executives from major crypto companies at the White House this Friday.
The planned summit is expected to include the participation of CEOs from prominent organizations such as Coinbase, Crypto.com, Robinhood, Exodus, and the chair of the bitcoin treasury company, Strategy, as mentioned by David Sacks, Trump’s AI & Crypto Czar.
Recently, Trump suggested the formation of a U.S. strategic crypto reserve. This proposed reserve would include bitcoin and four additional tokens, aiming to bolster the role of digital assets in the national economy. He stated on Truth Social, ‘I will make sure the U.S. is the Crypto Capital of the World.’
The announcement of this summit follows the notable rise in bitcoin prices after Trump’s election victory, hitting over $109,000 during the week of his inauguration. However, recent economic uncertainties have led to a decline, bringing bitcoin prices to just below $91,000.
Trump’s administration has consistently supported the cryptocurrency industry, with appointments of crypto-friendly officials across key departments. This aligns with his previous business ventures involving cryptocurrencies, including launching meme coins and promoting the decentralized finance project, World Liberty Financial, with his sons.
This upcoming summit at the White House highlights the continued interest and potential strategic direction of the U.S. regarding cryptocurrencies under President Trump’s administration.
