The White House held its first “crypto summit” on Friday. There, leaders from several industry leaders met to discuss the Trump administration’s steps towards clarity in crypto regulations. Among the attendees was Ripple CEO Brad Garlinghouse. BradGarlinghouse said “we are pleased to see the incredible support from this administration.”
with x post At the end of Friday, the CEO created the time “” for President Trump and Crypto Czar David Sacks to discuss the regulatory framework for digital currency.A week that feels like a few months. ”
Ripple CEO: We need an equal arena
Gerlinghouse, a defender of the Securities and Exchange Commission’s legal action against Ripple under the previous administration, mentioned the importance of entities in the industry to stop adopting “one coin and another coin.”
“We will continue to defend the need for equal arenas, as we have always done.He said. “It was great to hear others in the room reflect this! The industry must come together to advance much needed legislation in the United States.“
Garlinghouse concluded his message by thanking President Trump, Crypto Czar David Sacks, executive director of the Advisory Council on White House digital assets Bo Hines, and CFTC Commissioner Caroline Pham for hosting a “really historic summit.”
I praise Trump’s leadership in cryptography
After the summit, industry leaders and management staff showed support for Trump’s friendly approach to digital assets. In his speech at a post-summit press conference, David Sachs He said it was an honor to work for the president, who “works every day to do so much for the American people.”
“Your love for innovators and high IQ people is why we are hereSachs said. “You love legal fairness and no one knows how Lawfare feels more than you. You fight and never retreat in the face of an assassin bullet. It’s an inspiration for everyone in this room. ”
Sachs, a major effort in the current administration’s crypto policy, described Trump’s White House as operating “at technology speed,” and believed he pushed his promise to the digital asset industry to the president.
President Trump officially made him dedication Through an executive order signed on Thursday, the Ministry of Finance and Commerce were instructed to devise a budget-neutral strategy to accumulate Bitcoin and other digital assets in the National Strategic Preparation without taxpayer involvement.
“There is no cost for taxpayersTrump took into consideration.
The US President’s Message to the Crypto Community
“From this day on, America follows the rule that all Bitcoin owners know very well. Never sell Bitcoin,” Trump repeated what he said to Americans in July 2024 at the Nashville Bitcoin Conference.
Paused for effectiveness, he added.I don’t know if that’s correct or not. Who knows? who knows? But so far, that’s the right thing to do, and well, let’s keep it that way.”
Industry leaders attending the event welcomed the administration’s policies and claimed that many executives defeated the Biden administration’s regulatory crackdown, curb innovation and targeted the digital currency business.
“What everyone really needs at this point is to be clear about what the level of regulation scrutiny and strength is and who the key regulators are,” Yesha Yadav, a law professor at Vanderbilt University, told Reuters.
Tyler Winclevos, co-founder Geminitook him to social media to support the administration’s cause. “Yesterday was a history created,” he I wrote it. “First crypto president. The first crypto summit at the White House. We win big and keep winning until we get tired of winning.”
Still, the Washington Crypto Conference didn’t have much of an impact on Bitcoin price, as expected. The largest coins by market capitalization fell 2%, down 2% at $86,247 per Coingecko data.
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